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Keywords Studios jumps as it snaps up marketing services group g-Net Media

Nov 25, 2020

Keywords said the acquisition of g-Net, which has provided services to major game publishers including Activision Blizzard Inc ( NASDAQ:ATVI ), Microsoft Corp ( NASDAQ:MSFT ) and Bethesda as well as media giants including Netflix Inc ( NASDAQ:NFLX ) and Amazon Prime, will further its strategy to become the “’go to’ technical and creative services platform for the global video games industry”. For the year ended May 31, 2020, g-Net generated net revenues of US$16.3mln and adjusted earnings (EBITDA) of US$2.2mln, while for the calendar year to December 31, 2021, revenues are expected to be around US$20mln and EBITDA around $3mln. "It's a great pleasure to welcome the g-net team into the Keywords family. This represents a significant milestone as we continue to build our Marketing service business to become the first truly global, video game specialised marketing services company”, Keywords chief executive Andrew Day said in a statement. “With its well-established position as a valued partner to some of the biggest names in video games, and from its home in Hollywood, g-net brings the number of Keywords specialist marketing studios to seven. Combined, Keywords' annual marketing services revenues are now over €35mln with more than 180 people employed globally. We look forward to working with the wonderful team at g-net as we continue to grow and invest in this important area of our business", the CEO added. Keywords shares jumped 3.6% to 2,238p in early trading. Quick facts: Keywords Studios PLC Price: 2214 GBX

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