Keywords Studios Snaps Up Canadian Audio Description Firm

(Alliance News) - Video games services firm Keywords Studios PLC on Wednesday said it has bought ...

Alliance News 12 June, 2019 | 10:52AM
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(Alliance News) - Video games services firm Keywords Studios PLC on Wednesday said it has bought Descriptive Video Works Inc for CAD3.2 million, or around GBP1.9 million.

Descriptive Video Works, or DVW, provides audio description services for broadcasters and over-the-top streamed programming, films, documentaries, and live action series, as well as live events such as sports.

Audio description describes what is happening on screen, Keywords said, and is becoming legally required in a growing number of countries to help visually impaired people.

In the 12 months to November, DVW achieved revenue of CAD2.2 million, generating adjusted pretax profit of CAD660,000.

Keywords is paying CAD2.2 million in cash for the acquisition and the rest in shares, to DVW's founder Diane Johnson. Keywords shares were 1.2% higher on Wednesday at a price of 1,726.00 pence each.

Keywords Chief Executive Andrew Day said: "In 2018, Keywords and Descriptive Video Works collaborated on a transcreation project in which a major video game franchise was made ready for OTT streaming in an interactive format and we were really impressed by both the team's capabilities and how well we worked together.

"We are delighted to welcome Diane and the talented DVW team to the Keywords family. We are looking forward to supporting the accessibility needs of the film, TV and video-games industry as these markets continue to develop."

"Our voice over studios around the world will be looking at ways in which they can work with Diane and her team to bring audio description production to European, South American and Asian markets," Keywords continued.

"The acquisition of DVW also provides Keywords with its first studio in Vancouver, British Columbia, a city with very active involvement in film, television and video games and we hope to grow our presence there accordingly."

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Keywords Studios PLC 1,581.00 GBX -1.92 -
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