Keywords Studios PLC (AIM:KWS, OTC:KYYWF) has acquired US-based PR and communications agency 47 Communications for an undisclosed sum.
The UK group, which provides support services for the video games industry, said the deal would boost its marketing and PR offering in the US.
47 Communications, which specialises in the video game, technology, entertainment and digital lifestyle sectors, has a team of 55 delivering PR and media advice to clients ranging from start-ups to big global entertainment brands. Last financial year, it turned over US$11mln.
Sibel Sunar, the chief executive and founder of 47 Communications, will continue to manage the agency with support from the senior leadership team.
The acquisition brings a significant boost to Keywords’ marketing and PR offerings, complementing its existing full-service agencies Indigo Pearl based in London and LabCom based in Milan.
It will now be able to deliver a complete marketing solution for its clients on a global scale, thanks to the acquisition of 47 Communications.
"We are very excited that the team at 47 is joining the Keywords group," said Bertrand Bodson, CEO of Keywords Studios.
"47 has a well-deserved reputation as the leading PR agency in the US market, and we have long admired the quality of the team and the excellent services they provide."
The terms of the transaction include contingent consideration payable in a mix of cash and new ordinary shares, depending on the company's future performance over the next three years.