Keywords Studios PLC (LON:KWS), which provides technical services to the games industry, is acquiring Brighton-based user testing specialist Player Research in a deal worth up to £1.3mln in cash and paper.
Founder and seller Graham McAllister will receive an initial £700,000 plus 65,280 shares. The remainder is subject to an earn-out agreement based on achieving certain unspecified targets.
The deal, which, according to Keywords chief operating officer Giacomo Duranti has been three years in the planning, will be immediately earnings enhancing.
“We believe that by integrating Player Research within the group, and rolling out its services into our existing studios to provide reach into all major gaming regions, we will be able to leverage the intellectual capital, talent pool and execution capability of both organisations to significantly enhance the value we are able to bring to our clients,” Duranti.
“We are delighted to be able to welcome Player Research's highly talented team to the Keywords family and we look forward to working closely together to build upon Player Research's excellent reputation and loyal client base."