New high score: Gaming firm Keywords Studios sees major revenue jump

9 Apr 2018

Person holding Xbox controller. Image: chrisjohnsson/Shutterstock

London-based gaming firm Keyword Studios appears to be firmly plugged into the market after posting a 57pc jump in revenues for 2017.

With its headquarters in Ireland, Keywords Studios’ latest financial earnings for the end of 2017 show that it is really hitting its stride on the world stage.

According to the figures released this morning (9 April), the London-listed company’s revenues grew by 57pc to €151.4m, having achieved €96.6m at the same time in 2016.

Also rising 57pc was its adjusted earnings to €26.3m from €16.7m in 2016, while profits before tax increased by 55pc to €23m from €14.9m the previous year.

But perhaps its most noteworthy statistic is that the company is rapidly expanding, with 11 acquisitions completed over the course of the year. The largest of these was VMC in October for $66m, significantly increasing its presence in player support services in North America.

Keywords’ acquisition of Sperasoft in December for $24m also allowed for it to extend its engineering and art capabilities across eastern Europe.

Having now reached a third of the way through 2018, there was also the announcement that it had acquired a further two companies, with Cora Worldwide and Laced Music bought for a total of £4.5m, enabling Keywords to tap into its music-focused branding services with clients including Shell, Lego and BT.

This comes just a few weeks after Keywords acquired Maximal Studio – a Brazilian-based company providing voiceover services – for €300,000.

Expects strong 2018

“The group has delivered another strong performance with good organic growth supplemented by a number of acquisitions, including two of our largest acquisitions to date,” said Keywords chief executive Andrew Day.

“We entered 2018 with pro forma revenues of €225m, across seven service lines and 42 studios in four continents, compared to just over €16m derived from four service lines and five studios in 2013, the year of our IPO.

“We expect to make continued strong progress as we realise the full benefits of our enhanced services platform and with the financing in place to support further organic and acquisitive growth in 2018.”

Person holding Xbox controller. Image: chrisjohnsson/Shutterstock

Colm Gorey was a senior journalist with Silicon Republic