Keywords Studios adds two more companies to its 2020 acquisitions

17 Dec 2020428 Views

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The Dublin-headquartered gaming company has added Indigo Pearl and Jinglebell Communications to its long list of 2020 acquisitions.

Only two days after it announced it would acquire High Voltage Software, Keywords Studios has snapped up another two companies.

The Dublin-headquartered gaming company has acquired London-based PR agency Indigo Pearl and Italian recording studio Jinglebell Communications.

The news follows a string of other acquisitions throughout 2020. Most recently, Keywords Studios announced earlier this week that it would acquire full-service AAA game developer High Voltage Software for a total consideration of up to $50m.

It follows deals to take over UK development studio Coconut Lizard in June, creative marketing agency Maverick Media in August, Heavy Iron Studios in September and Hollywood marketing firm Gnet in November.

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Indigo Pearl is a full-service PR agency based in London, which specialises in the video game sector. Led by Caroline Miller, the company’s clients include Epic Games, Google Stadia, Sony PlayStation and Ubisoft Entertainment.

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Under the terms of the acquisition, Keywords Studios will pay initial consideration of £1.1m in cash and the equivalent of £0.5m in new ordinary shares on the first anniversary of completion, which will then be subject to orderly market provisions for a further year.

Jinglebell Communications is a boutique recording studio based in Milan. Founded in 1981, the company provides audio recording, music production and sound design for video games and advertisements. Jinglebell delivers thousands of audio files every year for game publishers such as Electronic Arts, Sega and Activision as well as other companies such as Vodafone and Nestlé.

Keywords Studios is paying cash consideration of €1.5m and the equivalent of €0.3m in new ordinary shares on the first anniversary of completion under the terms of the acquisition, which will then be subject to orderly market provisions for a further year.

Keywords Studios CEO Andrew Day said he is delighted to add Indigo Pearl and Jinglebell Communications to the company’s portfolio.

“We have worked closely with Indigo Pearl for a number of years as they have supported our trade press PR efforts and we know first-hand just how well connected in the games industry Caroline and her team are and the high value they add for their clients,” he said.

“Jinglebell is a long established and valued brand in Italy and the team bring unique skills and attributes that will enhance our offering across audio services, complementing the group’s existing strength in that market.”

Jenny Darmody is the deputy editor of Silicon Republic

editorial@siliconrepublic.com