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Keywords Studios on the acquisition trail again, buying Mexico-City based LOLA

Published: 07:27 15 Dec 2017 GMT

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Keywords will pay US$480,000 in cash and issue 10,106 new shares, it told investors

Keywords Studios PLC (LON:KWS) has continued its acquisition spree and boosted its audio services by buying Mexico-City based LOLA for US$1.03mln from its founders.

The video games technical services provider said LOLA, which had revenues of US$1.2mln in 2016, had a reputation for quality and Keywords already uses its services to complement those of its local voice recording studio - the Kite Team Mexico.

It provides Latin American Spanish dubbing, localisation and sound design services with clients including Warner Bros and Ubisoft.

"We are thrilled to have Alejandro, Luis and the rest of the LOLA team joining the Audio Service Line," said Andrea Ballista, the global audio service  line director at Keywords.

"Their skills and experience and access to talented voice actors in Mexico will increase our capacity for Latin American Spanish recording services and their expertise in dubbing film, TV and animated series will help extend our services in those markets."

Keywords  will pay US$480,000 in cash and issue 10,106 new shares, which will be subject to a one-year lock in period.

It will pay a further US$350,000 in cash over the next two years dependent on LOLA achieving certain performance targets.

On Wednesday this week, Keywords said it had acquired Sperasoft Inc and Sperasoft Studio LLC for US$27mln from the founders, all of whom will remain with the business.

US$22mln of the consideration will be satisfied in cash, with the remainder satisfied through the issue of 260,049 Keywords shares to the sellers on the first anniversary of the acquisition.

Although headquartered in Santa Clara, California, Sperasoft has production studios in St Petersburg and Volgograd, Russia and Krakow, Poland, from which it provides game development, art creation and software engineering services to video game developers and publishers around the world.

Sperasoft’s clients have included Electronic Arts, Ubisoft, Warner Bros and Riot Games.

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