Keywords Studios Buys Mexican Peer Localizadora Latam For USD1 Million (ALLISS)

LONDON (Alliance News) - Keywords Studios PLC said Friday it had acquired Mexico-based ...

Alliance News 15 December, 2017 | 9:52AM
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LONDON (Alliance News) - Keywords Studios PLC said Friday it had acquired Mexico-based Localizadora Latam SC for up to USD1.03 million in a cash and shares deal.

The video game localisation services provider acquired its peer from it founders Alejandro Gonzalez and Luis Daniel Ramirez.

Keywords explained it had already used Localizadora Latam services to complement its own operations in the region.

In 2017, Localizadora Latam is expected to maintain revenue in line with the USD1.2 million the year prior with normalised pretax profit anticipated to be around USD250,000. Around 40% of its revenues come from subcontracted work from Keywords.

The deal would see Keywords pay an initial cash consideration of USD480,000 and the issue of 10,106 shares which will have a one-year lock period. Shares in Keywords were 0.6% higher at 1,490.00 pence on Friday.

A further USD350,000 will be paid over the following two years dependent on certain performance targets being met.

Keywords Global Audio Service Line Director Andrea Ballista said the company was "thrilled" Gonzales and Ramirez and the rest of the Localizadora Latam team were joining the AIM-listed firm.

"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", Ballista said.

The newly issued shares are expected to be admitted on Wednesday. After the issue, Keywords will have 61.7 million shares outstanding.

By Ahren Lester; ahrenlester@alliancenews.com.

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Keywords Studios PLC 1,809.00 GBX -0.88 -

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