Keywords Studios, the technical services provider to the video games industry, has acquired Babel Media Ltd, a provider of outsourced video games services with operations in the UK, Canada and India, from Quatrro Global Services Pvt. Ltd. and The D. E. Shaw Group.
Keywords Studios is paying the sellers and settling the financing obligations of Babel to a total of £5.369 million. £2,215 million is payable through the issue of 1,516,944 new shares in Keywords Studios at a price of 145.994 pence per share and £3,154 million in cash to settle debts.
The unaudited management accounts for the 10 months to 31 January 2014 show Babel has achieved revenues of £6.4m and EBITDA of £0.4m; it has net assets of £1.44m after adjusting for the loans being repaid. Babel was founded in 1999.
Andrew Day, Chief Executive of Keywords Studios, commented, “The acquisition of Babel brings together two of the leading video games testing and localisation providers, firmly establishing Keywords as the market leader in its field, with operations across Dublin, Rome, Montreal, Seattle, Tokyo and now in New Delhi.”
UK, London & Ireland, Dublin & New Delhi, India & Montreal, Canada.
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