Like Ichi Worldwide

closed 12/18/2019 via Company Press Release

Keywords Studios, acquired Ichi Worldwide

synopsis: Keywords Studios, the go-to provider of technical and creative services to the global video games industry, has announced that it has acquired ICHI. Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Ichi Worldwide
Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
price ($mm)
$4.34
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 4/29/2020 via BNC Analysis

StretchSense Limited, acquired MocapNow

synopsis: StretchSense, a New Zealand-based global supplier of soft, stretchy sensors, buys US motion capture heavyweight MocapNow. Mocap Now is the premier motion capture studio in the Pacific Northwest. Founded by industry veterans of film and game development, Mocap Now's mission is to deliver the highest quality motion capture to their clients.
buyer: StretchSense Limited
StretchSense is a global supplier of soft, stretchy sensors. StretchSense aims to create a better world for the next generation. Their mission is to democratize wearables by making cutting-edge R&D accessible to everyone. "
target: MocapNow
Mocap Now is the premier motion capture studio in the Pacific Northwest. Founded by industry veterans of film and game development, Mocap Now's mission is to deliver the highest quality motion capture to their clients with the lowest amount of stress.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 3/12/2020 via BNC Analysis

ViRvii, Inc., will acquire Rhizome Productions, Inc.

synopsis: ViRvii, Inc., a technology firm that aims to bring virtual reality to art, will acquire Rhizome Productions, Inc., a virtual reality consulting and production company. Rhizome has consulted on virtual reality projects for a global client base comprised of gaming companies and studios.
buyer: ViRvii, Inc.
ViRvii a technology firm that aims to bring virtual reality to art. ViRvii is creating a platform that enables users and content providers to customize and share their own virtual reality experiences in either a private or public setting. "
target: Rhizome Productions, Inc.
Rhizome Productions is a virtual reality consulting and production company. Rhizome has consulted on virtual reality projects for a global client base comprised of gaming companies and studios. Their team has experience across every silo of entertainment, including music, movies and video games.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/18/2019 via BNC Analysis

Keywords Studios, acquired Syllabes

synopsis: Keywords Studios, an international technical services provider to the global video games industry, has acquired Montreal-based Syllabes, a company that specializes in audio recording and casting services in French and English for the video games industry.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Syllabes
Montreal-based Syllabes specializes in audio recording and casting services in French and English for the video games industry.
price ($mm)
$0.36
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.7x
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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Sunny Side Up Creative, Inc.
Sunny Side Up Creative is a creative agency and full-service production studio formed by people from the video game industry. They produce high quality marketing assets for game publishers and developers including game trailers, key art assets and motion graphic production.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: The TrailerFarm
TrailerFarm creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world, from AAA to indie developers of all sizes, even solo teams.
price ($mm)
$1.31
rev ($mm)
$1
EBITDA ($mm)
$0
EV / rev
2.0x
EV / EBITDA
12.5x
closed 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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Blindlight
Blindlight works for game publishers and developers in managing the entire production processes for the parts of games that benefit from Hollywood production resources. Their services include voice-over production, celebrity management, game writing, music, sound design and motion capture.
price ($mm)
$5.20
rev ($mm)
EBITDA ($mm)
$1
EV / rev
EV / EBITDA
10.0x
closed 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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: Maximal Studio
Maximal Studio, based in Brazil, provides voice-over recording for the games and learning industries. With over 15 years of experience in the audio production market, they provide solutions for every kind of audiovisual media.
price ($mm)
$0.37
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: Red Hot CG
Red Hot CG was founded in Shanghai in 2010. The company is a proven 2D, 3D and animation art provider to the global video games market with clients in the US, Europe, China and Japan. Red Hot CG found early success contributing to popular projects like Tomb Raider and God of War: Ascension.
price ($mm)
$6.00
rev ($mm)
$5
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 3/3/2017 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 2/17/2017 via BNC Analysis

Keywords Studios, acquired Spov Ltd

synopsis: Video games services provider Keywords Studios has purchased animation and digital design company Spov. Spov, based in London, is a creatively led design and animation studio that provides creative development, cinematics, user interface, visual effects and motion graphics services to the video game and film sectors.
buyer: Keywords Studios (AIM:KWS:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Spov Ltd
Spov, based in London, is a creatively led design and animation studio that provides creative development, cinematics, user interface, visual effects and motion graphics services to the video game and film sectors.
price ($mm)
$1.50
rev ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target parent: Frima Studio Inc.
target: Volta Creation
Volta is a leading visual development studio dedicated to creating high-end 2D and 3D visuals, as well as cinematics for video games. Established in Quebec City in 2006, Volta’s veteran team has delivered hundreds of projects to the world’s most celebrated video-game companies.
price ($mm)
$4.20
rev ($mm)
$3
EBITDA ($mm)
EV / rev
1.3x
EV / EBITDA
announced 4/1/2016 via BNC Analysis

Keywords Studios, will acquire Mindwalk Studios Ltd

synopsis: Keywords Studios PLC is to buy Beijing based Mindwalk. The company is an elite partner for digital art and animation production for the games industry. With over a decade in business, the studio engages with the gaming industry's top-tier developers on a varied range of beloved global properties delivering on all major platforms
buyer: Keywords Studios (AIM:KWS:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Mindwalk Studios Ltd
Mindwalk Studios is an elite partner for digital art and animation production for the games industry. With over a decade in business, the studio engages with the gaming industry's top-tier developers on a varied range of beloved global properties delivering on all major platforms.
price ($mm)
$5.50
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.3x
EV / EBITDA
closed 8/8/2013 via Market Wire

Concept Art House, acquired Concept Art House

synopsis: Concept Art House, an international art/creative services provider and game developer, announced the successful reacquisition of the company from UK-based Zattikka PLC.
buyer: Concept Art House
Concept Art House is a US-based production art studio focused on digital entertainment formats. Since their founding in 2008, the company helped move the leading edge into markets that the game industry never expected to reach. "
target parent: Zattikka, Ltd.
target: Concept Art House
Concept Art House is a US-based production art studio focused on digital entertainment formats. Since their founding in 2008, the company helped move the leading edge into markets that the game industry never expected to reach.
price ($mm)
$2.90
rev ($mm)
$4
EBITDA ($mm)
$0
EV / rev
0.7x
EV / EBITDA
29.0x
announced 6/27/2016 via PR Newswire

Imagine! Print Solutions, will acquire Midnight Oil Agency

synopsis: Imagine! Print Solutions is pleased to announce that it has entered into a definitive agreement to acquire Midnight Oil Agency, a world-class marketing agency based in Burbank, California.
buyer: Imagine! Print Solutions
Imagine! is North America's leading provider of printed in-store marketing solutions. The company's retail and brand-based marketing services breadth is unparalleled, enabling Imagine! to execute highly recurring, large scale point-of-purchase / point-of-sale displays and in-store signage campaigns."
target: Midnight Oil Agency
Midnight Oil Creative's business model provides promotional and branding services to theatrical, home entertainment and video game spaces for clients such as Disney, Universal, and Activision.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/9/2014 via BusinessWire

Twitch Interactive, Inc., will acquire GoodGame Agency

synopsis: Twitch, the leading video platform for gamers, announced that it will acquire GoodGame, the world’s first full-service agency dedicated to the esports and live video game broadcasting communities. Since its inception nearly a decade ago, GoodGame has grown into one of the gaming industry’s most progressive talent and content companies.
buyer: Twitch Interactive, Inc.
Twitch is the world’s leading live video platform and community for gamers where more than 60 million gather every month to watch and talk about video games with more than 1.1 million broadcasters. Twitch is the backbone of both live and on-demand video distribution for the video game ecosystem. "
target: GoodGame Agency
GoodGame is an all-in-one talent and content company focused on gaming and esports. Over the past decade, its staff of industry veterans has worked with teams, represented players, managed tournaments, created content, and brought numerous marquee advertisers into the gaming space.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/1/2014 via Market Watch

ThinkGeek, acquired Treehouse Brand Stores

synopsis: Geeknet, Inc. the parent company of online retailer ThinkGeek.com announced the acquisition of Treehouse Brand Stores, LLC. Treehouse Brand Stores works directly with major video game publishers to engage fans with their unique and exclusive products.
buyer parent: Geeknet, Inc.
buyer: ThinkGeek
ThinkGeek, Inc. is the premier retailer for the global geek community. ThinkGeek creates a world where everyone can express their inner geek, embrace their passions, and connect with each other. "
target: Treehouse Brand Stores
Treehouse Brand Stores works directly with major video game publishers to engage fans with their unique and exclusive products. They flip the conventional video game merchandise industry on its head by creating official gear that is nuanced, thoughtful, and of exceptional quality.
price ($mm)
$1.50
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 4/3/2013 via BNC Analysis

Aegis Media, will acquire WonderAd

synopsis: Aegis Media has signed an agreement to acquire 100% of Beijing Wonder Advertising Co (WonderAd), a digital planning and buying agency specialising in China’s online gaming industry, with eCRM and performance marketing capabilities.
buyer parent: Dentsu Inc.
buyer: Aegis Media
Aegis Media operates as an independent media communications network. It offers media communications and digital network services. The company provides digital media solutions and fully integrated digital campaigns. "
target: WonderAd
Founded in 2003, WonderAd (Beijing Wonder Advertising Co) is a full service digital media and marketing agency, which employs over 200 staff. Current key gaming clients include SNDA, Tencent Gaming, NetEase Gaming, RenRen Gaming and Perfect World.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/9/2013 via BNC Analysis

Beintoo Inc, purchased GameDrop and Nav.me from Tylted

synopsis: Beintoo, the loyalty rewards and monetization platform for Web and mobile apps is pleased to announce the acquisition of the patent pending mobile advertising technologies GameDrop and Nav.Me from Tylted Inc., one of the mobile web’s largest communities for social and casual gaming.
buyer: Beintoo Inc
Beintoo is a mobile engagement platform that offers a unique loyalty program. Beintoo can be experienced anywhere: on a smartphone, a favorite app, or browsing the web. The more users interact with partner apps and within the Beintoo community, the more Bedollars they earn. "
seller: Tylted
GameDrop and Nav.Me are patent pending mobile advertising technologies. GameDrop distributes HTML5 games in native applications via a publisher’s ad server. Nav.Me provides brands the opportunity to create a location based mission that can be delivered as an ad unit within any native app.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/5/2018 via Company Press Release

The Nielsen Company, Inc., acquired SuperData Research

synopsis: Nielsen Holdings plc, a global measurement and data analytics company, announced it has completed its acquisition of SuperData Research, a leading provider of market intelligence on digital games, gaming video content and virtual/augmented reality across mobile, PC online, console and other digital platforms.
buyer: The Nielsen Company, Inc. (NLSN:$6,465.00)
Nielsen Holdings plc is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation. "
target: SuperData Research
SuperData offers quantitative and qualitative insights on free-to-play games, digital console, mobile, PC downloadable content, streaming media and gaming video content, esports, and virtual reality. SuperData helps its customers understand what people play, connect to, watch, and spend on.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/18/2019 via Company Press Release

Keywords Studios, acquired Ichi Worldwide

synopsis: Keywords Studios, the go-to provider of technical and creative services to the global video games industry, has announced that it has acquired ICHI. Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Ichi Worldwide
Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
price ($mm)
$4.34
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 12/18/2019 via Company Press Release

Keywords Studios, acquired Ichi Worldwide

synopsis: Keywords Studios, the go-to provider of technical and creative services to the global video games industry, has announced that it has acquired ICHI. Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Ichi Worldwide
Founded in 2009 and headquartered in London, ICHI provides a full suite of creative and marketing services to video game publishers and to the sports and entertainment sectors around the world.
price ($mm)
$4.34
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 12/18/2019 via BNC Analysis

Keywords Studios, acquired Syllabes

synopsis: Keywords Studios, an international technical services provider to the global video games industry, has acquired Montreal-based Syllabes, a company that specializes in audio recording and casting services in French and English for the video games industry.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Syllabes
Montreal-based Syllabes specializes in audio recording and casting services in French and English for the video games industry.
price ($mm)
$0.36
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.7x
EV / EBITDA
closed 12/17/2019 via Company Press Release

Keywords Studios, acquired KantanMT.com

synopsis: Keywords Studios, the international technical and creative services provider to the global video games industry, has acquired KantanMT, a leading machine translation technology company in Ireland. KantanMT provides a SaaS based machine translation platform that enables users to develop and manage customized machine translation engines in the cloud.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: KantanMT.com
KantanMT.com is a leading machine translation technology company in Ireland. KantanMT provides a SaaS based machine translation platform that enables users to develop and manage customized machine translation engines in the cloud.
price ($mm)
$3.89
rev ($mm)
$1
EBITDA ($mm)
EV / rev
8.8x
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:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: TV+SYNCHRON
TV+SYNCHRON (TVS) is a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
price ($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:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Descriptive Video Works Inc
Headquartered in Canada, Descriptive Video Works provides audio description services for broadcast and streamed programming including films and series as well as live events such as the Olympics and Paralympics, for which it was the first company to provide real-time audio description.
price ($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:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target parent: Ankama
target: Wizcorp
Based in Tokyo, Japan, Wizcorp develops games mainly in the mobile space, with particular expertise in HTML5 and other mobile technologies. Wizcorp has provided game development as a service to Japanese publishers and developers including LINE, Square Enix, Avex and Yahoo Japan.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: GetSocial BV
GetSocial lets game developers manage the social interactions between their game, their players, and other networks, while also providing a toolkit for customer acquisition, retention, and engagement. They are based in the Netherlands.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Sunny Side Up Creative, Inc.
Sunny Side Up Creative is a creative agency and full-service production studio formed by people from the video game industry. They produce high quality marketing assets for game publishers and developers including game trailers, key art assets and motion graphic production.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: The TrailerFarm
TrailerFarm creates trailers for games big and small on any and all formats. Since 2011, they have been making creative content for game makers and publishers all around the world, from AAA to indie developers of all sizes, even solo teams.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Studio Gobo
Studio Gobo and Electric Square (Gobo, collectively) provides a range of games development services to both publishers and developers around the world. Its studios are based across three locations in Brighton and Hove in the UK.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target parent: Silicon Studio Corporation
target: Yokozuna Data
Yokozuna Data is a Japanese company that uses AI and machine learning to provide predictive analytics to video game developers. Their tools enables developers to better understand player behaviour, allowing them to determine the likelihood of players abandoning the game or purchasing in-game items.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Snowed In Studios Inc.
Founded in 2010 and based in Ottawa, Canada, Snowed In offers engineering and co-development services to the video-games industry and has a strong global reputation and well-established relationships with clients such as Ubisoft and Bethesda.
price ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Blindlight
Blindlight works for game publishers and developers in managing the entire production processes for the parts of games that benefit from Hollywood production resources. Their services include voice-over production, celebrity management, game writing, music, sound design and motion capture.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: Fire Without Smoke
Fire Without Smoke provides creative and marketing services to game publishers and developers, including creating game trailers, marketing art and materials for esports events and providing marketing consultancy and design services to the industry.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target parent: Cutting Edge Music Holdings Limited
target: Cord Worldwide Limited and Laced Music Limited
Established in 2009, CORD is a music agency working in branding and advertising. CORD’s services include music strategy, supervision, composition, sonic branding and talent management. Established in 2015, Laced is a music services company and record label working within the video games industry.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: Maximal Studio
Maximal Studio, based in Brazil, provides voice-over recording for the games and learning industries. With over 15 years of experience in the audio production market, they provide solutions for every kind of audiovisual media.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms to clients in more than 20 countries. "
target: LOLA Audio Localization
LOLA has over 20 years of working experience in the industry of dubbing and 15 years doing sound design, working in content adaption projects in Latin American Spanish. Their services include audio localization, translate & adaptation, sound design, and original soundtracks.
price ($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:$328.58)
Keywords Studios, headed by Andrew Day, was established in Dublin in 1998 by Giorgio Guastalla and works on video game development for multibillion-dollar gaming giants such as Electronic Arts, Activision Blizzard, Warner Bros, Riot Games, Sony, Supercell, Take-Two, Ubisoft and Nintendo. "
target: Sperasoft, Inc.
Sperasoft is a leading games development company with development centers in USA, Poland and Russia. They work closely with their partners to deliver high-quality titles for world-class publishers. Sperasoft's Saint Petersburg team worked alongside five Ubisoft studios on Assassin's Creed: Origins.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target: d3t Ltd
Founded in 2011, d3t consists of a group of highly experienced professional developers with skills covering an array of development activities including: PC, Mac and console games; smartphone and tablet apps and games; and business software development and systems integration.
price ($mm)
$3.95
rev ($mm)
$4
EBITDA ($mm)
EV / rev
1.1x
EV / EBITDA
closed 12/18/2019 via BNC Analysis

Keywords Studios, acquired Syllabes

synopsis: Keywords Studios, an international technical services provider to the global video games industry, has acquired Montreal-based Syllabes, a company that specializes in audio recording and casting services in French and English for the video games industry.
buyer: Keywords Studios (AIM:KWS:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: Syllabes
Montreal-based Syllabes specializes in audio recording and casting services in French and English for the video games industry.
price ($mm)
$0.36
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.7x
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:$328.58)
Ireland’s Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, software engineering, testing, localization, audio and customer care services to a blue-chip client base. "
target: TV+SYNCHRON
TV+SYNCHRON (TVS) is a veteran of the German dubbing and localization industry. Based in Berlin, Germany, TVS has more than 25 years of experience of dubbing and localizing content into German, working across a range of media and formats.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. It provides integrated art creation, localisation, testing, audio and customer care services across 50 languages and 14 games platforms to a blue chip client base in more than 15 countries. "
target: La Marque Rose, Asrec, Dune Sound and Around the Word
La Marque Rose is an entertainment localisation business. Asrec SAS is a video game localisation company. Dune Sound and Around the Word, both subsidiary companies of Dune Media SAS, provide audio recording and localisation services for the video game industry. The companies are based in France.
price ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Sonox
Sonox is a dynamic, creative and experienced localization studio. They offer tailor-made solutions for audio engineering and localization for all kinds of projects, mainly video games and films. Sonox also provides professional translation and proofreading of texts.
price ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Enzyme Testing Labs Inc.
Enzyme is a privately held, North-American based company, focused on video game Quality Assurance (QA). The organization has over ten years of experience in video game QA testing with offices in St-Jerome - Quebec, Montreal - Quebec and Kawasaki - Japan.
price ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Synthesis International Srl
Synthesis was founded in Milan in 1995 and quickly became the largest Italian company offering video game localization. Synthesis has been translating video game hits for 15 years, always remaining true to the original text.
price ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry with offices in Dublin, Tokyo, Seattle, Montreal and Rome. Working on a worldwide basis, they provide a range of linguistic, testing, and quality control services to Video Game Developers and Publishers alike. "
target: Binari Sonori
Binari Sonori is a global leader in localization, translation, and production of international contents for digital entertainment, with a strong focus and unparalleled qualifications in the localization of video games.
price ($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:$328.58)
Keywords is an international technical service provider to the global Video Game Industry. With over 1,500 games passionate employees around the world, they provide a range of translation, testing, audio, customer care and art production services to Video Game Developers and Publishers alike. "
target: Reverb Localization
Reverb Localization is a game & IT localization company located in Rio de Janeiro. With their highly qualified translators and high end translation tools, Reverb offers spotless translation & localization services. They have in-house translators and a freelancer pool of seasoned professionals.
price ($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:$328.58)
Keywords Studios is an international technical services provider to the global video games industry. They provide integrated art production, localization, testing, audio, player support and engineering services across 50 languages and 14 game platforms to blue chip clients in over 18 countries. "
target parent: Volt Information Sciences, Inc.
target: VMC Consulting Corporation
VMC combines technical expertise and vigilant dedication to deliver unmatched development, QA, localization, and technical support services. VMC serves as a seamless extension of their client's team to improve product quality, accelerate productivity, and maximize customer satisfaction.
price ($mm)
$66
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 11/20/2019 via BNC Analysis

TransPerfect Translations International, Inc., acquired Chulengo

synopsis: TransPerfect, the world’s largest provider of language and technology solutions for global business, has acquired Chulengo, an Argentina-based localization and post-production company. They have been working in the industry for more than six years now, for clients from all over the world.
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: Chulengo
Chulengo is an Argentina-based localization and post-production company. They have been working in the industry for more than six years now, for clients from all over the world.
price ($mm)
rev ($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:$328.58)
Based in Ireland, Keywords Studios is an international technical services provider to the video games industry. They provide integrated art production, engineering, audio services, testing, localization and player support services across 50 languages and 14 game platforms in more than 20 countries. "
target: Blindlight
Blindlight works for game publishers and developers in managing the entire production processes for the parts of games that benefit from Hollywood production resources. Their services include voice-over production, celebrity management, game writing, music, sound design and motion capture.
price ($mm)
$5.20
rev ($mm)
EBITDA ($mm)
$1
EV / rev
EV / EBITDA
10.0x

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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
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EBITDA ($mm)
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EBIT ($mm)
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Atrinsic
Atrinsic
Atrinsic is one of the leading digital advertising and marketing services companies in the United States. Atrinsic’s content is organized into four strategic content groups - digital music, casual games, interactive contests, and communities/lifestyles.
year
2009
rev ($mm)
$69.09
EBITDA ($mm)
($7.87)
EBIT ($mm)
($11.57)
Net Income ($mm)
Employees
144
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Ticker: TSXV:EGLX
 
 
 
 
 
 
 
 
Enthusiast Gaming Inc.
Founded in 2014, Enthusiast is the fastest-growing online community of video gamers. Through the Company’s unique acquisition strategy, it has a platform of over 70 owned and affiliated websites and currently reaches over 75 million monthly visitors with its unique and curated content.
year
2019
rev ($mm)
$9.37
EBITDA ($mm)
($10.19)
EBIT ($mm)
($10.23)
Net Income ($mm)
Employees
0
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Ticker: ALGCM
 
 
 
 
 
 
 
 
Groupe Concoursmania
Groupe ConcoursMania is a French specialist of online marketing games. The group provides advertisers with innovative online marketing technologies and services, based on games mechanics. They also manage a wide portfolio of casual gaming websites.
year
2014
rev ($mm)
$22.87
EBITDA ($mm)
$2.95
EBIT ($mm)
$2.36
Net Income ($mm)
Employees
83
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Ticker: OTCPK:FBNK
 
 
 
 
 
 
 
 
FaceBank Group, Inc.
FaceBank Group, Inc.
Facebank Group, Inc. is a character-based virtual entertainment company, and a leading developer of digital human likeness for celebrities and consumers, focused on applications in traditional entertainment, sports entertainment, live events, mixed reality (AR/VR) and artificial intelligence.
year
2019
rev ($mm)
$5.83
EBITDA ($mm)
($5.43)
EBIT ($mm)
($26.67)
Net Income ($mm)
Employees
50
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Ticker: SEHK:547
 
 
 
 
 
 
 
 
Digital Domain Holdings Limited
Digital Domain Holdings Limited
Digital Domain Holdings Limited is the parent company of the award winning visual effects house Digital Domain. As one of the biggest VFX service providers in the US media industry, it is mainly engaged in the production of VFX, animations and movies.
year
2015
rev ($mm)
$67.95
EBITDA ($mm)
($18.27)
EBIT ($mm)
($22.25)
Net Income ($mm)
Employees
671
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Ticker: ASX:ALL
 
 
 
 
 
 
 
 
Aristocrat Leisure Ltd
Aristocrat Leisure Ltd
Based in Australia, Aristocrat Leisure Limited is one of the world’s leading providers of gaming solutions. They operate in 90 countries around the world with a team of over 3500 employees who deliver outstanding results by pushing the boundaries of innovation, creativity and technology.
year
2017
rev ($mm)
$1,867.57
EBITDA ($mm)
$730.73
EBIT ($mm)
$594.26
Net Income ($mm)
$376.82
Employees
3640
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Ticker: SE:FORE
 
 
 
 
 
 
 
 
Forestlight Entertainment AB
Forestlight Entertainment AB
Forestlight Entertainment AB engages in the provision of entertainment services in Sweden. The company produces 3D animated movies for cinema and TV; animation for games; and commercials and corporate films for family and children’s audience.
year
2011
rev ($mm)
$10.48
EBITDA ($mm)
($0.01)
EBIT ($mm)
($1.33)
Net Income ($mm)
Employees
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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)
$328.58
EBITDA ($mm)
$45.38
EBIT ($mm)
$30.54
Net Income ($mm)
$11.49
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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