Like Volta Creation

closed 7/29/2016 via BNC Analysis

Keywords Studios, acquired Volta Creation

synopsis: Volta Creation, a leading visual development studio dedicated to creating high-end 2D and 3D visuals, as well as cinematics for video games, has been acquired by Keywords, an international technical service provider to the global Video Game Industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target parent: Frima Studio Inc.
target: Volta Creation
Volta is a leading visual development studio dedicated to creating high-end 2D and 3D visuals, as well as cinematics for video games. Established in Quebec City in 2006, Volta’s veteran team has delivered hundreds of projects to the world’s most celebrated video-game companies.
price ($mm)
$4.20
rev ($mm)
$3
EBITDA ($mm)
EV / rev
1.3x
EV / EBITDA
closed 9/19/2018 via BNC Analysis

Keywords Studios, acquired The TrailerFarm

synopsis: Keywords Studios, an international technical services provider to the video games industry, has acquired The TrailerFarm, a company that creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: The TrailerFarm
TrailerFarm creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world, from AAA to indie developers of all sizes, even solo teams.
price ($mm)
$1.31
rev ($mm)
$1
EBITDA ($mm)
$0
EV / rev
2.0x
EV / EBITDA
12.5x
closed 7/5/2017 via gamesindustry.biz

Sumo Digital Ltd., acquired Atomhawk Design Ltd.

synopsis: Sumo Digital, an award winning independent game development studio, has acquired Atomhawk, a world leading art and design studio. Atomhawk creates concept art, UI/UX design, motion graphics and marketing art for games, film and digital media. Projects they have worked on include Mortal Kombat X, Avengers: Age of Ultron, Injustice 2, and more.
buyer parent: Perwyn
buyer: Sumo Digital Ltd. (AIM:SUMO:$50.73)
Sumo Digital is an award winning independent game development studio with 13 years experience developing quality games across all platforms. Sumo develops successful games across all platforms and genres, creating titles for major publishers including Microsoft, Sony, Sega and Disney Interactive. "
target: Atomhawk Design Ltd.
Atomhawk is a world leading art and design studio. They create concept art, UI/UX design, motion graphics and marketing art for games, film and digital media. They strive to help their clients develop and visualise ideas, and to present those ideas to the world with breathtaking style and quality.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/24/2017 via BNC Analysis

Keywords Studios, acquired Red Hot CG

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announces the acquisition of 100% of Strongbox Ltd, a holding company with subsidiaries in China and Indonesia trading under the Red Hot CG ("Red Hot") brand. Red Hot are specialists in the production of graphical art assets for video games.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: Red Hot CG
Red Hot CG was founded in Shanghai in 2010. The company is a proven 2D, 3D and animation art provider to the global video games market with clients in the US, Europe, China and Japan. Red Hot CG found early success contributing to popular projects like Tomb Raider and God of War: Ascension.
price ($mm)
$6.00
rev ($mm)
$5
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 3/31/2014 via BNC Analysis

Electronic Sports League, acquired ESS Agency

synopsis: Leading esports firm ESL has announced the acquisition of event services and technologies agency ESS. ESS Agency offers video game entertainment and video production services to help connect brands with their audience.
buyer: Electronic Sports League
Electronic Sports League (ESL) brings gamers together to communicate, experience and discover their shared hobby of video games. Offering daily news, competitions, and leagues. All with community functions, detailed profiles, friend lists, guestbooks and photo galleries. "
target: ESS Agency
ESS Agency offers video game entertainment and video production services to help connect brands with their audience. The company was formerly known as E-Sports Services LLC and changed its name to ESS Agency in 2011. The company was founded in 2006 and is based in New York, New York.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/16/2014 via Wall Street Journal

Keywords Studios, acquired Liquid Violet

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announces the acquisition of Liquid Violet Ltd, a video games voice production services company. Based in London’s Soho, their talent lies in a good eye for collaboration and a vision committed to refining the art of voice production in games.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry with offices in Dublin, Tokyo, Seattle, Montreal and Rome. Working on a worldwide basis, they provide a range of linguistic, testing, and quality control services to Video Game Developers and Publishers alike. "
target: Liquid Violet
Liquid Violet specialises in bringing video game voices to life. Based in London’s Soho, their talent lies in a good eye for collaboration and a vision committed to refining the art of voice production in games, drawing on their experience and expertise to deliver exceptional results.
price ($mm)
$0.49
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/30/2010 via Company Description

Fields Corporation, acquired Digital Frontier Inc.

synopsis: Fields Corporation has acquired 74.3% of Digital Frontier Inc. Digital Frontier Inc. is a motion picture production company. The company engages in the planning and production of motion picture for film, game, TV, DVD, exhibition, and online; and computer graphics (CG) production for game cinematic, TV commercials, and feature film VFX.
buyer: Fields Corporation
Fields Corporation engages in planning, development, and sale of pachinko/pachislot machines in Japan. It also involves in the purchase and sale of pachinko/pachislot machines, as well as develops and sells copyrighted characters and related content. "
target: Digital Frontier Inc.
Digital Frontier Inc. is a motion picture production company. The company engages in the planning and production of motion picture for film, game, TV, DVD, exhibition, and online; and computer graphics (CG) production for game cinematic, TV commercials, and feature film VFX.
price ($mm)
$7.21*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/30/2019 via PR Newswire

Vindex, acquired Next Generation Esports

synopsis: Vindex, the emerging leader in esports, announced the acquisition of Next Generation Esports (NGE), the premier independent esports production company. NGE elevates the next generation of competitive video game franchises through A-to-Z professional league operations, amateur tournaments, live events, managed services and studio broadcasts.
buyer: Vindex
Vindex is the preeminent esports infrastructure platform. The company provides technology and services that power the richest experiences in esports and help the world's leading game publishers, esports leagues and teams deliver deeply engaging experiences to fans around the world. "
target: Next Generation Esports
Next Generation Esports (NGE) is the premier independent esports production company. NGE elevates the next generation of competitive video game franchises through A-to-Z professional league operations, amateur tournaments, live events, managed services and studio broadcasts.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/9/2017 via Reuters

KAYAC Inc., acquired Wellplayed, Inc.

synopsis: Kayac, a game developer in Japan, acquired 150 shares (60 percent stake) of Wellplayed Inc. Wellplayed, Inc. offers video production, casting management, administration program distribution, and e-sports consultation services.
buyer: KAYAC Inc. (TSE:3904:$55.90)
KAYAC Inc. develops gaming applications in Japan. The company was founded in 1998 and is headquartered in Kamakura, Japan. They also offer jsdo.it, a community for developers to showcase their works on JavaScript and HTML5, as well as share their codes and learn from others. "
target: Wellplayed, Inc.
Tokyo-based, Wellplayed, Inc. offers video production, casting management, administration program distribution, and e-sports consultation services.
price ($mm)
$0.68*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/30/2017 via Market Wire

GG Media Network merged with American Leisure Holdings, Inc.,

synopsis: American Leisure Holdings, Inc. is pleased to announce that it has finalized a merger with GG Media Network, parent company to GG Studios, LLC, a rising eSports media production company. GG Studios works with publishers and sponsors to create and distribute original eSports content for both television and digital platforms.
buyer: American Leisure Holdings, Inc. (OTCPK:AMLH:$25.76)
American Leisure Holdings, Inc. engages in the investments in the leisure industry and energy market. They also operate travel service and leisure property businesses and vacation club and travel club programs. "
target: GG Media Network
GG Media Network, parent company to GG Studios, LLC, is a rising eSports media production company. GG Studios works with publishers and sponsors to create and distribute original eSports content for both television and digital platforms.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/23/2019 via gamesindustry.biz

Saber Interactive, acquired Bigmoon Entertainment

synopsis: Saber Interactive, an independent developer of interactive games and entertainment, has acquired Bigmoon Entertainment, a video game developer in Portugal. Bigmoon Entertainment aims to develop the best games possible with immersive stories and innovative challenges. Their games include Dakar 18, Demons Age, Police Simulator: Patrol Duty, and more.
buyer: Saber Interactive
Saber Interactive is an independent developer of interactive games and entertainment. Founded in 2001, Saber has grown into one of the largest and longest-standing developers of interactive games in Russia/Eastern Europe and one of the few remaining independent game studios producing AAA content. "
target: Bigmoon Entertainment
Bigmoon Entertainment is a video game developer in Portugal. Bigmoon Entertainment aims to develop the best games possible with immersive stories, innovative challenges and great characters. Their games include Dakar 18, Demons Age, Syndrome, Police Simulator: Patrol Duty, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/18/2019 via BNC Analysis

XYRALITY GmbH, will acquire SHPlay GmbH

synopsis: Hamburg-based game company Xyrality, which offers games such as Fortress Kings, is taking over SHPlay. SHPlay is a Bielefeld, Germany-based game studio founded by Sebastian Heinisch. SHPlay develops web browser and Android simulation games such as Speditionsleiter and Leitstellenspiel.
buyer: XYRALITY GmbH
Xyrality specialises in developing and publishing next-generation MMO (massively multiplayer online) games for a broad target group. The Hamburg-based game company offers games such as Fortress King, a medieval strategy MMO. "
target: SHPlay GmbH
SHPlay is a Bielefeld, Germany-based game studio founded by Sebastian Heinisch. SHPlay develops web browser and Android simulation games such as Speditionsleiter and Leitstellenspiel. Speditionsleiter gives players the opportunity to run a shipping company.
price ($mm)
$2.21
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/28/2019 via BNC Analysis

LCG Entertainment, acquired Telltale Games

synopsis: LCG Entertainment, a holdings company, has acquired Telltale Games, a company that pioneered the episodic delivery of digital gaming content and won numerous accolades for its best-selling game series, including The Walking Dead. LCG will look to sell Telltale’s older catalog of games is in talks to create new licensed games.
buyer: LCG Entertainment
LCG Entertainment is a holding company that is focused on developing new video games. LCG is passionate about video games and will focus on reviving old video games while also developing new sequels. "
target: Telltale Games
An award-winning independent developer and publisher of both original and licensed IP games, Telltale Games pioneered the episodic delivery of digital gaming content. Telltale won numerous accolades for its best-selling game series, including The Walking Dead and Batman: The Telltale Series.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/21/2019 via BNC Analysis

Northedge Capital Partners, will acquire Catalis SE

synopsis: Catalis Group, a UK video game firm that's composed of; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher, will be acquired by NorthEdge, a UK a private equity firm focused on lower mid-market buy-out and development capital transactions.
buyer: Northedge Capital Partners
Headquartered in the UK, NorthEdge manages £650m of private equity funds aimed at lower mid-market buy-out and development capital transactions. They are looking to invest in like-minded businesses who have real ambition and the potential to shape global markets from the regional powerhouses. "
target: Catalis SE (DB:XAE2:$29.89)
Catalis Group is a UK video game firm that covers every aspect of game testing, development and publishing. It’s composed of 3 companies; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher.
price ($mm)
$109
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/21/2019 via BNC Analysis

Northedge Capital Partners, will acquire Catalis SE

synopsis: Catalis Group, a UK video game firm that's composed of; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher, will be acquired by NorthEdge, a UK a private equity firm focused on lower mid-market buy-out and development capital transactions.
buyer: Northedge Capital Partners
Headquartered in the UK, NorthEdge manages £650m of private equity funds aimed at lower mid-market buy-out and development capital transactions. They are looking to invest in like-minded businesses who have real ambition and the potential to shape global markets from the regional powerhouses. "
target: Catalis SE (DB:XAE2:$29.89)
Catalis Group is a UK video game firm that covers every aspect of game testing, development and publishing. It’s composed of 3 companies; Testronic, a provider of quality assurance services, Kuju, a company that creates top-rated games, and Curve Digital, an award-winning digital games publisher.
price ($mm)
$109
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/14/2019 via Company Press Release

THQ Nordic AB, acquired Gunfire Games

synopsis: THQ Nordic, a company that develops and publishes PC and console games for the global games market, has acquired Gunfire Games, an independent game developer based in Austin, Texas. They are best known for creating and shipping the DARKSIDERS franchise, and being the developers behind Chronos, the Oculus Rift Adventure RPG.
buyer: THQ Nordic AB (OM:THQN B:$596.89)
Austria-based THQ Nordic acquires, develops and publishes PC and console games for the global games market. The company is a major player within game and partner publishing with an extensive catalogue of over 100 owned franchises, such as Saints Row, Dead Island, and Darksiders amongst others. "
target: Gunfire Games
Gunfire Games is an independent game developer based in Austin, Texas. They are best known for creating and shipping the DARKSIDERS franchise, and being the developers behind Chronos, the Oculus Rift Adventure RPG.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/24/2019 via BNC Analysis

Media and Games Invest plc, acquired gamigo AG

synopsis: Media and Games Invest, a German strategic investment-holding, that focuses on a buy, build, and sell strategy of fast-growing companies, has acquired majority interest in gamigo AG, a German company that has developed into one of the leading publishers of online and mobile games in Europe and North America.
buyer: Media and Games Invest plc (XTRA:BCK:$39.49)
Media and Games Invest plc (MGI) is a German strategic investment-holding, that focuses on a buy, build, and sell strategy of fast-growing companies. The MGI portfolio companies are growing via acquisitions plus organic growth and new technologies. "
target: gamigo AG
Headquartered in Germany, Gamigo has developed into one of the leading publishers of online and mobile games in Europe and North America. Gamigo grows via organic growth as well as through acquisitions and has made acquisitions in games, media, technology companies and individual game assets.
price ($mm)
rev ($mm)
$61
EBITDA ($mm)
$5
EV / rev
0.0x
EV / EBITDA
0.0x
announced 7/17/2019 via Company Press Release

Century Network, will acquire Tciplay Interactive Entertainment

synopsis: Century Network, a Chinese company engaged in online entertainment platforms, e-sports, and game operations, will acquire a 70% stake in Tciplay, a Chinese company that specializes in computer and mobile games. Tciplay partners with Japanese game companies to operate games such as Dynasty Warriors 6, Dead or Alive 5, Three Kingdoms 11, and more.
buyer: Century Network (SZSE:300494:$72.26)
Century Network is a Chinese company primarily engaged in online entertainment platforms, e-sports, and game operations. Century provides management software for the internet cafe industry. They also operate gaming websites and e-sports platforms. "
target: Tciplay Interactive Entertainment
Tciplay Interactive entertainment is a Chinese company that specializes in computer and mobile games. Tciplay partners with leading Japanese game companies to operate games such as Dynasty Warriors 6, Dead or Alive 5, Three Kingdoms 11, The World End Eclipse, and more.
price ($mm)
$61*
rev ($mm)
$32
EBITDA ($mm)
EV / rev
2.8x
EV / EBITDA
closed 7/1/2019 via BNC Analysis

NEXON Co., Ltd., acquired Embark Studios AB

synopsis: Nexon, a Korean game publisher that specializes in online games for PC and mobile devices, has acquired a 66.1% stake in Embark Studios, a game development studio in Sweden. Embark Studios is on a mission to blur the line between playing and making by creating games and tools that empower everyone to create.
buyer: NEXON Co., Ltd. (TSE:3659:$2,372.01)
Nexon is a Korean game publisher that specializes in online games for PC and mobile devices. Nexon is a global leader in online games, with more than 100 live games operated across more than 190 countries. Their games include MapleStory, MapleStory 2, Mabinogi, Tree of Savior, and more. "
target: Embark Studios AB
Embark Studios is a game development studio in Sweden. Embark Studios is on a mission to blur the line between playing and making by creating games and tools that empower everyone to create. Their team consists of industry veterans from leading developers such as DICE, Funcom, and more.
price ($mm)
$96*
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/18/2019 via BNC Analysis

Niantic, Inc., acquired Sensible Object Ltd

synopsis: Pokémon Go and AR developer Niantic has acquired Sensible Object, a London-based start-up that uses connected technology to create new kinds of play that bring people together. Sensible Object specializes in games, hardware, design, toys, and software, and brought their flagship game Beasts of Balance to market in November 2016.
buyer: Niantic, Inc.
Niantic is building an augmented reality (AR) platform for current and future generations of AR. Niantic is the company behind the hit mobile game Pokémon Go and its predecessor, Ingress. The Niantic Real World Platform includes a massively scalable engine for a shared state and user interactions. "
target: Sensible Object Ltd
Sensible Object is a London-based game studio that uses connected technology to create new kinds of play that bring people together. Sensible Object specializes in games, hardware, design, toys, and software, and brought their flagship game Beasts of Balance to market in November 2016.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/29/2016 via BNC Analysis

Keywords Studios, acquired Volta Creation

synopsis: Volta Creation, a leading visual development studio dedicated to creating high-end 2D and 3D visuals, as well as cinematics for video games, has been acquired by Keywords, an international technical service provider to the global Video Game Industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target parent: Frima Studio Inc.
target: Volta Creation
Volta is a leading visual development studio dedicated to creating high-end 2D and 3D visuals, as well as cinematics for video games. Established in Quebec City in 2006, Volta’s veteran team has delivered hundreds of projects to the world’s most celebrated video-game companies.
price ($mm)
$4.20
rev ($mm)
$3
EBITDA ($mm)
EV / rev
1.3x
EV / EBITDA
announced 9/19/2019 via Company Press Release

Keywords Studios, will acquire TV+SYNCHRON

synopsis: Keywords Studios, an international technical services provider to the global video games industry, will acquire TV+SYNCHRON (TVS), a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
buyer: Keywords Studios (AIM:KWS:$323.52)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: TV+SYNCHRON
TV+SYNCHRON (TVS) is a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
price ($mm)
$4.09
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/12/2019 via BNC Analysis

Keywords Studios, acquired Descriptive Video Works Inc

synopsis: Ireland’s Keywords Studios, an international technical services provider to the global video games industry, has acquired Descriptive Video Works, a Canadian company that provides audio description services for broadcast and streamed programming including films and series as well as live events.
buyer: Keywords Studios (AIM:KWS:$323.52)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Descriptive Video Works Inc
Headquartered in Canada, Descriptive Video Works provides audio description services for broadcast and streamed programming including films and series as well as live events such as the Olympics and Paralympics, for which it was the first company to provide real-time audio description.
price ($mm)
$2.41
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/24/2019 via Company Press Release

Keywords Studios, acquired Wizcorp

synopsis: Ireland's Keywords Studios, the international technical services provider to the global video games industry, has acquired Wizcorp, a Tokyo-based game development company focused on providing end-to-end services for games, including conception, development, production, and live operations.
buyer: Keywords Studios (AIM:KWS:$323.52)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target parent: Ankama
target: Wizcorp
Based in Tokyo, Japan, Wizcorp develops games mainly in the mobile space, with particular expertise in HTML5 and other mobile technologies. Wizcorp has provided game development as a service to Japanese publishers and developers including LINE, Square Enix, Avex and Yahoo Japan.
price ($mm)
$1.07
rev ($mm)
$3
EBITDA ($mm)
EV / rev
0.4x
EV / EBITDA
closed 2/21/2019 via BNC Analysis

Keywords Studios, acquired GetSocial BV

synopsis: Game service provider Keywords has acquired Dutch cloud-based software platform GetSocial. Netherlands-based GetSocial lets game developers manage the social interactions between their game, their players, and other networks, while also providing a toolkit for customer acquisition, retention, and engagement.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: GetSocial BV
GetSocial lets game developers manage the social interactions between their game, their players, and other networks, while also providing a toolkit for customer acquisition, retention, and engagement. They are based in the Netherlands.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/21/2018 via Company Press Release

Keywords Studios, will acquire Sunny Side Up Creative, Inc.

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announced that it has entered into an agreement to acquire Sunny Side Up Creative Inc. Sunny Side Up produces high quality marketing assets for game publishers and developers including game trailers, key art assets and motion graphic production.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Sunny Side Up Creative, Inc.
Sunny Side Up Creative is a creative agency and full-service production studio formed by people from the video game industry. They produce high quality marketing assets for game publishers and developers including game trailers, key art assets and motion graphic production.
price ($mm)
$4.35
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/19/2018 via BNC Analysis

Keywords Studios, acquired The TrailerFarm

synopsis: Keywords Studios, an international technical services provider to the video games industry, has acquired The TrailerFarm, a company that creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: The TrailerFarm
TrailerFarm creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world, from AAA to indie developers of all sizes, even solo teams.
price ($mm)
$1.31
rev ($mm)
$1
EBITDA ($mm)
$0
EV / rev
2.0x
EV / EBITDA
12.5x
closed 8/20/2018 via BNC Analysis

Keywords Studios, acquired Studio Gobo

synopsis: Dublin-headquartered games services firm Keywords Studios has acquired Studio Gobo and Electric Square (Gobo, collectively). Gobo provides a range of games development services to both publishers and developers around the world. Its studios are based across three locations in Brighton and Hove in the UK.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Studio Gobo
Studio Gobo and Electric Square (Gobo, collectively) provides a range of games development services to both publishers and developers around the world. Its studios are based across three locations in Brighton and Hove in the UK.
price ($mm)
$13
rev ($mm)
$8
EBITDA ($mm)
$5
EV / rev
4.2x
EV / EBITDA
7.2x
closed 7/23/2018 via BNC Analysis

Keywords Studios, acquired Yokozuna Data

synopsis: Keywords Studios, an Irish provider of technical services to the video gaming industry, has acquired Yokozuna Data from Silicon Studio, a Japanese game studio. Yokozuna Data is a Japanese company that uses AI and machine learning to provide predictive analytics to game developers. Their tools allows developers to better understand player behaviour.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target parent: Silicon Studio Corporation
target: Yokozuna Data
Yokozuna Data is a Japanese company that uses AI and machine learning to provide predictive analytics to video game developers. Their tools enables developers to better understand player behaviour, allowing them to determine the likelihood of players abandoning the game or purchasing in-game items.
price ($mm)
$1.50
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/20/2018 via BNC Analysis

Keywords Studios, acquired Snowed In Studios Inc.

synopsis: Keywords Studios, the international creative and technical services provider to the global video games industry, announces that it has acquired Snowed In Studios Inc. Founded in 2010 and based in Ottawa, Canada, Snowed In offers engineering and co-development services to the video-games industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Snowed In Studios Inc.
Founded in 2010 and based in Ottawa, Canada, Snowed In offers engineering and co-development services to the video-games industry and has a strong global reputation and well-established relationships with clients such as Ubisoft and Bethesda.
price ($mm)
$3.07
rev ($mm)
$2
EBITDA ($mm)
$1
EV / rev
1.7x
EV / EBITDA
5.1x
closed 6/11/2018 via BNC Analysis

Keywords Studios, acquired Blindlight

synopsis: Keywords Studios, an Irish international technical services provider for the video game industry, acquired video game production services provider Blindlight. California based Blindlight works on behalf of game publishers and developers in managing the production processes for the parts of games that benefit from Hollywood production resources.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Blindlight
Blindlight works for game publishers and developers in managing the entire production processes for the parts of games that benefit from Hollywood production resources. Their services include voice-over production, celebrity management, game writing, music, sound design and motion capture.
price ($mm)
$5.20
rev ($mm)
EBITDA ($mm)
$1
EV / rev
EV / EBITDA
10.0x
closed 5/31/2018 via Company Press Release

Keywords Studios, acquired Fire Without Smoke

synopsis: Keywords Studios, the international technical services provider to the video games industry, announces that it has acquired Fire Without Smoke, further strengthening the Group’s art services line. Founded in 2013 and with offices in London and Montreal, Fire Without Smoke provides creative and marketing services to game publishers and developers.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: Fire Without Smoke
Fire Without Smoke provides creative and marketing services to game publishers and developers, including creating game trailers, marketing art and materials for esports events and providing marketing consultancy and design services to the industry.
price ($mm)
$6.89
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/11/2018 via BNC Analysis

Keywords Studios, acquired Cord Worldwide Limited and Laced Music Limited

synopsis: Keywords Studios, the international technical services provider to the global video games industry, has acquired Cord Worldwide Limited and Laced Music Limited from the Cutting Edge Group. CORD is a music agency working in branding and advertising. Laced is a music services company and record label working within the video games industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target parent: Cutting Edge Music Holdings Limited
target: Cord Worldwide Limited and Laced Music Limited
Established in 2009, CORD is a music agency working in branding and advertising. CORD’s services include music strategy, supervision, composition, sonic branding and talent management. Established in 2015, Laced is a music services company and record label working within the video games industry.
price ($mm)
$6.34
rev ($mm)
$9
EBITDA ($mm)
$1
EV / rev
0.7x
EV / EBITDA
6.7x
closed 4/9/2018 via BNC Analysis

Keywords Studios, acquired Maximal Studio

synopsis: Keywords Studios, an international technical services provider to the global video games industry. has acquired Maximal Studio. Maximal Studio is an audio studio based in Sao Paulo, Brazil, that provides voice-over recording for the video games and learning industries.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: Maximal Studio
Maximal Studio, based in Brazil, provides voice-over recording for the games and learning industries. With over 15 years of experience in the audio production market, they provide solutions for every kind of audiovisual media.
price ($mm)
$0.37
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/15/2017 via Company Press Release

Keywords Studios, acquired LOLA Audio Localization

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announced that it has acquired Localizadora Latam SC (“LOLA”). Based in Mexico City, LOLA provides Latin American Spanish dubbing, localisation and sound design services for the video game, film and television markets.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: LOLA Audio Localization
LOLA has over 20 years of working experience in the industry of dubbing and 15 years doing sound design, working in content adaption projects in Latin American Spanish. Their services include audio localization, translate & adaptation, sound design, and original soundtracks.
price ($mm)
$0.68
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.9x
EV / EBITDA
closed 12/13/2017 via BNC Analysis

Keywords Studios, acquired Sperasoft, Inc.

synopsis: Dublin video game developer Keywords Studios has acquired Sperasoft, a major eastern European games and production studio with headquarters in California. Founded in 2004 by Igor Efremov, Alexei Kudriashov and Mark Rizzo, Sperasoft has development centres in St Petersburg and Volgograd, Russia, and Kraków in Poland.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios, headed by Andrew Day, was established in Dublin in 1998 by Giorgio Guastalla and works on video game development for multibillion-dollar gaming giants such as Electronic Arts, Activision Blizzard, Warner Bros, Riot Games, Sony, Supercell, Take-Two, Ubisoft and Nintendo. "
target: Sperasoft, Inc.
Sperasoft is a leading games development company with development centers in USA, Poland and Russia. They work closely with their partners to deliver high-quality titles for world-class publishers. Sperasoft's Saint Petersburg team worked alongside five Ubisoft studios on Assassin's Creed: Origins.
price ($mm)
$27
rev ($mm)
$16
EBITDA ($mm)
EV / rev
1.7x
EV / EBITDA
announced 10/25/2017 via BNC Analysis

Keywords Studios, will acquire VMC Consulting Corporation

synopsis: Technical services provider Keywords Studios is set to buy QA and customer support provider VMC from owner Volt Information Sciences. VMC provides functional testing, customer support and localization services both in and outside of the games industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($mm)
$66
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/25/2017 via BNC Analysis

Keywords Studios, acquired d3t Ltd

synopsis: Keywords Studios has acquired d3t Ltd, a software developer for video game producers. d3t consists of a group of highly experienced professional developers with skills covering an array of development activities including: PC, Mac and console games; smartphone and tablet apps and games; and business software development and systems integration.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target: d3t Ltd
Founded in 2011, d3t consists of a group of highly experienced professional developers with skills covering an array of development activities including: PC, Mac and console games; smartphone and tablet apps and games; and business software development and systems integration.
price ($mm)
$3.95
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 8/9/2017 via BNC Analysis

Keywords Studios, acquired La Marque Rose, Asrec, Dune Sound and Around the Word

synopsis: Keywords Studios has acquired entertainment localisation business La Marque Rose SARL, video game localisation company Asrec SAS, and Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, which provides audio recording and localisation services for the video game industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: La Marque Rose, Asrec, Dune Sound and Around the Word
La Marque Rose is an entertainment localisation business. Asrec SAS is a video game localisation company. Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, provide audio recording and localisation services for the video game industry. The companies are based in France.
price ($mm)
$7.76
rev ($mm)
$11
EBITDA ($mm)
EV / rev
0.9x
EV / EBITDA
closed 5/24/2017 via BNC Analysis

Keywords Studios, acquired Red Hot CG

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announces the acquisition of 100% of Strongbox Ltd, a holding company with subsidiaries in China and Indonesia trading under the Red Hot CG ("Red Hot") brand. Red Hot are specialists in the production of graphical art assets for video games.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: Red Hot CG
Red Hot CG was founded in Shanghai in 2010. The company is a proven 2D, 3D and animation art provider to the global video games market with clients in the US, Europe, China and Japan. Red Hot CG found early success contributing to popular projects like Tomb Raider and God of War: Ascension.
price ($mm)
$6.00
rev ($mm)
$5
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 5/17/2017 via BNC Analysis

Keywords Studios, acquired GameSim

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announced the acquisition of GameSim Inc., a specialist in outsourced engineering services and technology platforms for the video games industry and other virtual simulation applications.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: GameSim
Based in Orlando, Florida, GameSim employs over 30 software engineers and artists and has a range of cutting edge, proprietary technology platforms which are integrated with client processes to develop video games and visually simulate environments for military and urban planning applications.
price ($mm)
$4.81
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.2x
EV / EBITDA
announced 9/19/2019 via Company Press Release

Keywords Studios, will acquire TV+SYNCHRON

synopsis: Keywords Studios, an international technical services provider to the global video games industry, will acquire TV+SYNCHRON (TVS), a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
buyer: Keywords Studios (AIM:KWS:$323.52)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: TV+SYNCHRON
TV+SYNCHRON (TVS) is a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
price ($mm)
$4.09
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/6/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired MoGi Group

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, has acquired MoGi Group, a Dublin-based gaming solutions house recognized as a premier partner for studios, developers, and content owners in the gaming space. MoGi provides video game localization, community management, player support, and more.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. More than 5,000 global organizations employ TransPerfect’s GlobalLink Product Suite to simplify the management of multilingual content. The company is fully ISO 9001 and ISO 17100 certified. "
target: MoGi Group
Dublin-based MoGi Group provides world-class video game localization, community management, player support, quality assurance and games testing, voice-over recording, cybersecurity, tool development, art design, and age rating services to over 650 satisfied clients worldwide.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/9/2017 via BNC Analysis

Keywords Studios, acquired La Marque Rose, Asrec, Dune Sound and Around the Word

synopsis: Keywords Studios has acquired entertainment localisation business La Marque Rose SARL, video game localisation company Asrec SAS, and Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, which provides audio recording and localisation services for the video game industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: La Marque Rose, Asrec, Dune Sound and Around the Word
La Marque Rose is an entertainment localisation business. Asrec SAS is a video game localisation company. Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, provide audio recording and localisation services for the video game industry. The companies are based in France.
price ($mm)
$7.76
rev ($mm)
$11
EBITDA ($mm)
EV / rev
0.9x
EV / EBITDA
closed 12/28/2016 via BNC Analysis

Keywords Studios, acquired Sonox

synopsis: Keywords Studios, the international technical services provider to the global video games industry, announces that it has acquired Sonox Audio Solutions. Sonox provides audio recording and localisation services to video game companies targeting Spanish and Latin American markets.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Sonox
Sonox is a dynamic, creative and experienced localization studio. They offer tailor-made solutions for audio engineering and localization for all kinds of projects, mainly video games and films. Sonox also provides professional translation and proofreading of texts.
price ($mm)
$0.68
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/17/2016 via BNC Analysis

Keywords Studios, acquired Enzyme Testing Labs Inc.

synopsis: Keywords Studios, the world’s leading technical services provider to the global video games industry, announced that it has acquired Enzyme Testing Labs. Based in St-Jerome, Quebec and with offices in Montreal and in Kawasaki, Enzyme’s strengths are in functional QA and localisation testing of video games for leading game publishers and developers.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Enzyme Testing Labs Inc.
Enzyme is a privately held, North-American based company, focused on video game Quality Assurance (QA). The organization has over ten years of experience in video game QA testing with offices in St-Jerome - Quebec, Montreal - Quebec and Kawasaki - Japan.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/13/2016 via BNC Analysis

Keywords Studios, acquired Synthesis International Srl

synopsis: Keywords Studios Plc, has acquired Synthesis, the largest Italian company offering video game localization. Synthesis has been translating video game hits for 15 years, always remaining true to the original text.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Synthesis International Srl
Synthesis was founded in Milan in 1995 and quickly became the largest Italian company offering video game localization. Synthesis has been translating video game hits for 15 years, always remaining true to the original text.
price ($mm)
$19
rev ($mm)
$19
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
announced 3/25/2016 via Company Press Release

Pole To Win Co., Ltd., will acquire Entalize

synopsis: Pole To Win announced at a meeting of the board of directors that it will acquire Entalize. Entalize, based in Japan, has carried out the localization of several games. Entalize is a game localization company specializing in the localization of English-Japanese titles.
buyer: Pole To Win Co., Ltd. (TSE:3657:$208.93)
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services. "
target: Entalize
Entalize is a game localization company specializing in the localization of English-Japanese titles.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/9/2014 via BNC Analysis

Keywords Studios, will acquire Binari Sonori

synopsis: Keywords Studios PLC, an international technical service provider to the global Video Game Industry, has agreed to acquire Binari Sonori. Binari Sonori is a provider of outsourced voice-over and translation services to the international video games market with operations in Milan, Italy and Los Angeles in the US.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry with offices in Dublin, Tokyo, Seattle, Montreal and Rome. Working on a worldwide basis, they provide a range of linguistic, testing, and quality control services to Video Game Developers and Publishers alike. "
target: Binari Sonori
Binari Sonori is a global leader in localization, translation, and production of international contents for digital entertainment, with a strong focus and unparalleled qualifications in the localization of video games.
price ($mm)
$16
rev ($mm)
$14
EBITDA ($mm)
EV / rev
1.5x
EV / EBITDA
announced 10/18/2017 via PR Newswire

RWS Holdings plc, will acquire Moravia

synopsis: Moravia announced that RWS Holdings plc has signed a purchase agreement to acquire the Moravia IT Group companies. Based in the Czech Republic, Moravia is a globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high quality multilingual products.
buyer: RWS Holdings plc (AIM:RWS:$186.00)
Based in the UK, RWS is a leading provider of patent translations and one of the leading players in the provision of intellectual property support services and a market leader in life sciences translations and linguistic validation as well as a language service provider in other technical areas. "
target parent: Clarion Capital Partners, LLC
target: Moravia
Based in the Czech Republic, Moravia is a leading globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high quality multilingual products.
price ($mm)
$320
rev ($mm)
$159
EBITDA ($mm)
$27
EV / rev
2.0x
EV / EBITDA
11.8x
closed 2/16/2015 via PR Newswire

Clarion Capital Partners, LLC, acquired Moravia

synopsis: Moravia, a leading globalization solution provider, enabling companies in the information technology, e-learning, and life sciences industries to enter global markets with high-quality multilingual products, announced that Clarion Capital Partners, a New York-based middle market private equity firm, has acquired a majority interest in the company.
buyer: Clarion Capital Partners, LLC
Clarion Capital Partners, LLC is a private equity investment firm which seeks to make primarily control private equity investments in a diversified portfolio of middle-market companies. The firm focuses in industries such as Business, Healthcare, Financial, Consumer Products, Retail, and Media. "
target: Moravia
Moravia's services address the complex localization demands of leading global brands and fast-growing companies, primarily in the IT and life science industry sectors.
price ($mm)
rev ($mm)
$100
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 1/7/2015 via BNC Analysis

Keywords Studios, acquired Reverb Localization

synopsis: Keywords Studios, the international technical services provider to the global video games industry, completed the acquisition of Reverb Localization. Founded in 2012 and based in Rio de Janeiro, Reverb provides localisation and audio management services for Brazilian Portuguese for leading games including World of Warcraft and Magic the Gathering.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Reverb Localization
Reverb Localization is a game & IT localization company located in Rio de Janeiro. With their highly qualified translators and high end translation tools, Reverb offers spotless translation & localization services. They have in-house translators and a freelancer pool of seasoned professionals.
price ($mm)
$0.24
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/10/2019 via BNC Analysis

Morningside Translations, Inc., acquired Net-Translators

synopsis: Morningside, a leading translation services company, has acquired Net-Translators, a leading translation, localization, and multilingual testing company based in Isreal. Net-Translators helps medical-device manufacturers, software developers and hardware companies prepare their products and services for worldwide deployment.
buyer: Morningside Translations, Inc.
Morningside is a leading translation services company partnering with the Am Law 100 and Fortune 500 companies around the globe. Headquartered in New York City, they maintain a powerful global network of language consultants and legal professionals in over 100 languages and dialects. "
target: Net-Translators
Net-Translators is a leading translation, localization, and multilingual testing company based in Isreal. Net-Translators helps medical-device manufacturers, software developers and hardware companies prepare their products and services for worldwide deployment.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 10/25/2017 via BNC Analysis

Keywords Studios, will acquire VMC Consulting Corporation

synopsis: Technical services provider Keywords Studios is set to buy QA and customer support provider VMC from owner Volt Information Sciences. VMC provides functional testing, customer support and localization services both in and outside of the games industry.
buyer: Keywords Studios (AIM:KWS:$323.52)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($mm)
$66
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/21/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired Sublime Subtitling & Translation

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, announced the acquisition of Sublime Subtitling & Translation, a company based in Spain that specializes in audiovisual translation and subtitling for global entertainment clients.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 90 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. "
target: Sublime Subtitling & Translation
Sublime is a Translation and Subtitling Company based in Spain. They offer a wide range of solutions including Translation, Subtitling and Localization in multiple languages for international, regional, and local content owners, aggregators, broadcasters, and distributors.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/21/2019 via BusinessWire

TransPerfect Translations International, Inc., acquired Lassostudios

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, acquired Lassostudios, a Madrid-based company that specializes in dubbing, voiceover, subtitling, audio description, closed captioning, and other post-production services.
buyer: TransPerfect Translations International, Inc.
TransPerfect is the world’s largest provider of language and technology solutions for global business. From offices in over 90 cities on six continents, TransPerfect offers a full range of services in 170+ languages to clients worldwide. "
target: Lassostudios
Founded in Madrid in 2011, Lassostudios specializes in dubbing, voiceover, subtitling, audio description, closed captioning, and other post-production services, delivered primarily to entertainment clients in Spain and elsewhere in Europe.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/3/2007 via BusinessWire

Translations.com, Inc., acquired Adams Globalization

synopsis: Translations.com, a leading provider of technology-enabled language solutions, has completed a merger with Adams Globalization, a localization service provider with over 25 years’ experience. Financial terms of the deal were not disclosed.
buyer parent: Transparent Language
buyer: Translations.com, Inc.
Translations.com is a leading provider of software, website, and enterprise-wide localization services, as well as localization-related technology products. Translations.com solutions allow customers to conduct business more effectively in international markets. "
target: Adams Globalization
Adams Globalization is a leading provider of software localization and internationalization, software language and functional testing, technical document translation, web site globalization, locale-specific desktop publishing, content management, and XLIFF migration services.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/11/2007 via BusinessWire

International Software Products, B.V. merged with Translations.com, Inc.,

synopsis: Translations.com, a leader in website localization, software localization, and Globalization Management System technology products, has completed a merger with one of Europe's premier providers of localization services, International Software Products B.V. Financial terms of the deal were not disclosed.
buyer parent: Transparent Language
buyer: Translations.com, Inc.
Translations.com is a leading provider of software, website, and enterprise-wide localization services, as well as localization-related technology products. Translations.com solutions allow customers to conduct business more effectively in international markets. "
target: International Software Products, B.V.
International Software Products, B.V. (iSP) is an end-to-end partner to many of the world's leading technology companies for software localization and testing. Based in Amsterdam, iSP has been helping software companies deploy products globally since 1989.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/11/2018 via BNC Analysis

Keywords Studios, acquired Blindlight

synopsis: Keywords Studios, an Irish international technical services provider for the video game industry, acquired video game production services provider Blindlight. California based Blindlight works on behalf of game publishers and developers in managing the production processes for the parts of games that benefit from Hollywood production resources.
buyer: Keywords Studios (AIM:KWS:$323.52)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Blindlight
Blindlight works for game publishers and developers in managing the entire production processes for the parts of games that benefit from Hollywood production resources. Their services include voice-over production, celebrity management, game writing, music, sound design and motion capture.
price ($mm)
$5.20
rev ($mm)
EBITDA ($mm)
$1
EV / rev
EV / EBITDA
10.0x
closed 3/3/2017 via PR Newswire

Lionbridge Technologies, Inc., acquired Exequo

synopsis: Lionbridge Technologies, Inc. announced the acquisition of Exequo, a privately-held audio production, translation & localization company that specializes in global video game services. Exequo will become part of Lionbridge Game Services, a Lionbridge service that provides end-to-end localization & testing services for game & entertainment studios.
buyer: Lionbridge Technologies, Inc. (LIOX:$556.65)
Lionbridge provide detail-critical business processes, including translation, online marketing, global content management and application testing solutions, which ensure global brand consistency, local relevancy and technical usability across all touch points of the customer lifecycle. "
target: Exequo
Exequo is a privately-held audio production, translation and localization company that specializes in global video game services. Founded in 1998, Exequo is one of the most recognized and respected brands in the games services industry.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/12/2018 via BNC Analysis

BTI Studios, acquired La BiBi.it Srl

synopsis: BTI Studios, one of the world’s largest localization companies, has acquired La BiBi.it and Multimedia Network. La BiBi.it and Multimedia Network are Italian dubbing companies. The companies provide dubbing and localization services for feature films, TV shows, cartoons, video games, and documentaries.
buyer parent: Altor Equity Partners
buyer: BTI Studios
BTI Studios is among the world’s largest localization companies providing dubbing, subtitling, and access services in any language. Founded in 1995, BTI Studios today operates 23 local facilities globally, spanning a network of fully owned local sites across Europe, Asia and the US. "
target: La BiBi.it Srl
La BiBi.it and Multimedia Network are Italian dubbing companies. The companies provide dubbing and localization services for films, TV shows, cartoons, video games, and documentaries. The companies have worked on popular productions such as E.R., The X-Files, digimon, Doctor Who, and Paw Patrol.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Volta Creation

The TrailerFarm

Atomhawk Design Ltd.

Red Hot CG

ESS Agency

Liquid Violet

Digital Frontier Inc.

Next Generation Esports

Wellplayed, Inc.

GG Media Network

Bigmoon Entertainment

SHPlay GmbH

Telltale Games

Catalis SE

Catalis SE

Gunfire Games

gamigo AG

Tciplay Interactive Entertainment

Embark Studios AB

Sensible Object Ltd

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Volta Creation

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TV+SYNCHRON

Descriptive Video Works Inc

Wizcorp

GetSocial BV

Sunny Side Up Creative, Inc.

The TrailerFarm

Studio Gobo

Yokozuna Data

Snowed In Studios Inc.

Blindlight

Fire Without Smoke

Cord Worldwide Limited and Laced Music Limited

Maximal Studio

LOLA Audio Localization

Sperasoft, Inc.

VMC Consulting Corporation

d3t Ltd

La Marque Rose, Asrec, Dune Sound and Around the Word

Red Hot CG

GameSim

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TV+SYNCHRON

MoGi Group

La Marque Rose, Asrec, Dune Sound and Around the Word

Sonox

Enzyme Testing Labs Inc.

Synthesis International Srl

Entalize

Binari Sonori

Moravia

Moravia

Reverb Localization

Net-Translators

VMC Consulting Corporation

Sublime Subtitling & Translation

Lassostudios

Adams Globalization

International Software Products, B.V.

Blindlight

Exequo

La BiBi.it Srl

Geography
Matching Companies
Ticker: YVR
 
 
 
 
 
 
 
 
Liquid Media Group Ltd.
Liquid Media Group Ltd.
Liquid Media Group is a vertically integrated global studio that produces content for all platforms. The group creates and delivers creative content for film, television, gaming and AR/VR through its network of shared services.
year
2018
rev ($mm)
$0.42
EBITDA ($mm)
($0.89)
EBIT ($mm)
($0.89)
Net Income ($mm)
Employees
  • drill down
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Ticker: KNM
 
 
 
 
 
 
 
 
Konami Corporation
Konami Corporation
Konami Corporation develops, publishes, markets, and distributes video game software products for stationary and portable consoles, as well as for use on personal computers. It operates in three segments: Digital Entertainment, Gaming & Systems, and Health & Fitness.
year
2012
rev ($mm)
$265,758.00
EBITDA ($mm)
$51,370.00
EBIT ($mm)
$41,292.00
Net Income ($mm)
$23,012.00
Employees
5362
  • drill down
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Ticker: SEHK:700
 
 
 
 
 
 
 
 
Tencent Holdings Ltd.
Tencent Holdings Ltd.
Tencent Holdings Limited is an investment holding company involved in providing internet and mobile value-added services (VAS), online advertising services and e-commerce transactions services
year
2019
rev ($mm)
$46,983.28
EBITDA ($mm)
$16,822.78
EBIT ($mm)
$12,097.11
Net Income ($mm)
$11,960.20
Employees
54623
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Ticker: NTES
 
 
 
 
 
 
 
 
NetEase, Inc.
NetEase, Inc.
NetEase, Inc. is a leading internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops some of China’s most popular PC-client and mobile games, e-commerce businesses, advertising and e-mail services.
year
2019
rev ($mm)
$10,750.03
EBITDA ($mm)
$1,998.42
EBIT ($mm)
$1,637.88
Net Income ($mm)
$1,273.77
Employees
23687
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Ticker: ATVI
 
 
 
 
 
 
 
 
Activision Blizzard
Activision Blizzard
Activision Blizzard, Inc., a member of the S&P 500, is the world's most successful standalone interactive entertainment company. Activision Blizzard develops and publishes games based on some of the most beloved entertainment franchises, including Call of Duty, Guitar Hero, and World of Warcraft.
year
2016
rev ($mm)
$5,946.00
EBITDA ($mm)
$1,893.00
EBIT ($mm)
$1,279.00
Net Income ($mm)
$872.00
Employees
7190
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Ticker: TSE:7974
 
 
 
 
 
 
 
 
Nintendo
Nintendo
Nintendo Co., Ltd. is a Japanese multinational consumer electronics company headquartered in Kyoto, Japan. Nintendo is the world's largest video game company by revenue.
year
2014
rev ($mm)
$5,578.09
EBITDA ($mm)
($356.18)
EBIT ($mm)
($452.95)
Net Income ($mm)
Employees
5213
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Ticker: NasdaqGS:EA
 
 
 
 
 
 
 
 
Electronic Arts Inc.
Electronic Arts Inc.
Electronic Arts (EA) is a global leader in digital interactive entertainment. The Company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. EA has more than 300 million registered players around the world.
year
2018
rev ($mm)
$5,150.00
EBITDA ($mm)
$1,568.00
EBIT ($mm)
$1,434.00
Net Income ($mm)
$1,043.00
Employees
9300
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Ticker: SGAMY
 
 
 
 
 
 
 
 
Sega Sammy Holdings Inc.
Sega Sammy Holdings Inc.
The SEGA SAMMY Group is involved in a wide range of business operations, encompassing Sammy’s pachislot and pachinko machine business; entertainment contents business focused on SEGA Group’s digital game business; and resort business, which is represented by the development and operation of hotels.
year
2019
rev ($mm)
$3,024.74
EBITDA ($mm)
$300.70
EBIT ($mm)
$110.24
Net Income ($mm)
$24.10
Employees
7726
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Ticker: TSE:3659
 
 
 
 
 
 
 
 
NEXON Co., Ltd.
NEXON Co., Ltd.
Based in Japan, NEXON Co. is a global leader in online games, with more than 100 live games operated across more than 190 countries. Nexon pioneered micro-transactions and the free-to-play business model, and is widely credited with unmatched global expertise in sophisticated live game operations.
year
2019
rev ($mm)
$2,372.01
EBITDA ($mm)
$1,035.14
EBIT ($mm)
$970.78
Net Income ($mm)
$1,059.35
Employees
6441
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Ticker: ENXTPA:UBI
 
 
 
 
 
 
 
 
Ubisoft Entertainment S.A.
Ubisoft Entertainment S.A.
Ubisoft is a leading producer, publisher and distributor of interactive entertainment products worldwide and has grown considerably through a strong and diversified line-up of products and partnerships.
year
2019
rev ($mm)
$2,066.19
EBITDA ($mm)
$275.24
EBIT ($mm)
$233.11
Net Income ($mm)
$111.94
Employees
15913
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Ticker: TTWO
 
 
 
 
 
 
 
 
Take-Two Interactive Software, Inc.
Take-Two Interactive Software, Inc.
Take-Two Interactive Software develops and distributes games for PCs, as well as for Sony PlayStation, Nintendo, and SEGA game consoles. The company has distribution operations in Australia, North America, Europe, Scandinavia, and the UK. Other titles include Fly!, Earthworm Jim 3-D, and Darkstone.
year
2017
rev ($mm)
$1,779.75
EBITDA ($mm)
$147.17
EBIT ($mm)
$113.39
Net Income ($mm)
$67.30
Employees
3707
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Ticker: TSE:3632
 
 
 
 
 
 
 
 
Gree, Inc.
Gree, Inc.
GREE develops games at its studios in Japan, North America, and South Korea, producing high-ranking titles in the app markets of each region. The company was founded in 2004.
year
2018
rev ($mm)
$703.90
EBITDA ($mm)
$97.60
EBIT ($mm)
$85.11
Net Income ($mm)
$42.53
Employees
1416
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Ticker: SEHK:777
 
 
 
 
 
 
 
 
NetDragon WebSoft Inc.
NetDragon WebSoft Inc.
NetDragon Websoft Inc. is a leading innovator and creative force in China's online gaming and mobile internet industries. NetDragon offers many well-known mobile Internet products and services, including 91 Assistant, HiMarket, 91 Launcher,91 Panda Reader,sj.91.com and www.hiapk.com.
year
2017
rev ($mm)
$615.68
EBITDA ($mm)
$29.42
EBIT ($mm)
($7.39)
Net Income ($mm)
Employees
6446
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Ticker: OM:THQN B
 
 
 
 
 
 
 
 
THQ Nordic AB
Founded in 2011, THQ Nordic is a global video game publisher and developer. Based in Vienna, Austria and Karlstad, Sweden with subsidiaries in Germany and the USA, THQ Nordic brands include Darksiders, MX vs. ATV, Red Faction, Titan Quest and many more.
year
2019
rev ($mm)
$596.89
EBITDA ($mm)
$79.74
EBIT ($mm)
$18.37
Net Income ($mm)
$34.11
Employees
1422
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Ticker: NasdaqGS:BILI
 
 
 
 
 
 
 
 
Bilibili Inc.
Bilibili Inc.
Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games.
year
2018
rev ($mm)
$537.71
EBITDA ($mm)
($23.79)
EBIT ($mm)
($72.85)
Net Income ($mm)
Employees
1903
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Ticker: AIM:KWS
 
 
 
 
 
 
 
 
Keywords Studios
Keywords Studios
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike.
year
2019
rev ($mm)
$323.52
EBITDA ($mm)
$44.69
EBIT ($mm)
$30.07
Net Income ($mm)
$11.32
Employees
6600
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Ticker: TSE:3657
 
 
 
 
 
 
 
 
Pole To Win Co., Ltd.
Pole To Win Co., Ltd.
Pole To Win (PTW) is the world's outsourcing services provider for software, games, e-commerce, and more. Their wide range of services includes: Quality Testing, Quality Engineering, Translation and Localization, Customer Support, and Onsite Services.
year
2018
rev ($mm)
$208.93
EBITDA ($mm)
$26.84
EBIT ($mm)
$21.12
Net Income ($mm)
$10.31
Employees
1356
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Ticker: DB:XAE2
 
 
 
 
 
 
 
 
Catalis SE
Catalis Group provides high-end technical services relating to the creation of digital content for the digital media and entertainment industries. Their subsidiaries are recognised for their experience and competence in the fields of creative services and quality assurance.
year
2015
rev ($mm)
$29.89
EBITDA ($mm)
$3.15
EBIT ($mm)
$2.56
Net Income ($mm)
$2.80
Employees
371
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