Keywords Studios acquires Waste Creative and Wicked Witch

Video games industry services provider Keywords Studios said on Tuesday that it had acquired digital creative marketing agency Waste Creative and Australian video game developer Wicked Witch Software.

Keywords will pay up to £9.8m for Waste, made up of an initial consideration of £2.2m in a mix of cash and shares and up to £7.6m dependent on the performance of the business over the three years from completion.

The AIM-listed group stated acquisition would help to address an increasing demand from its client base for games-as-a-service support to cover the full marketing lifespan of titles, from pre-launch support to post-launch ongoing support, with a focus on community engagement and retention.

For Wicked Witch, Keywords made a cash payment of $6.5m.

Chief executive Bertrand Bodson said: "We are delighted to have further strengthened the Keywords group by adding such talented teams in London and Melbourne."

As of 0910 GMT, Keywords shares were up 0.22% at 2,758.0p.