Keywords Studios buys Player Research for £1.3m

Keywords Studios, a services provider to the global video games industry, has bought peer Player Research for up to £1.3m.

The acquisition of Brighton-based Player Research, which provides consulting and user testing from its laboratory to mobile, console and virtual reality game developers, forms part of Keywords Studios’ strategy to provide end-to-end services to its client base covering all aspects of game production and live operations support.

The AIM-listed company said Player Research's technology can be exported to its production facilities in Montreal, Dublin, Singapore, Tokyo and Beijing to expand its services and adapt them to different nationalities and cultures so clients can tailor their games for their targeted audiences.

Keywords studios paid £700,000 in cash and issued 65,280 shares in the company to Player Research's founder Graham McAllister and others, subject to a two-year lock-in period which will begin trading on 31 October, while a further £300,000 will be payable subject to Player Research achieving certain targets within two years of the acquisition.

Following admission the company's total issued share capital will be 54.4m shares of 1p each with one voting right.

Giacomo Duranti, chief operating officer, said: "Keywords and Player Research have been exploring opportunities together over the past three years. As both companies have expanded their services to multiple points along the games lifecycle the fit between us has become increasingly apparent.

“We believe that by integrating Player Research within the group, and rolling out its services into our existing studios to provide reach into all major gaming regions, we will be able to leverage the intellectual capital, talent pool and execution capability of both organisations to significantly enhance the value we are able to bring to our clients. “

Shares in Keyword Studios were up 0.03% to 440.12p at 0829 BST.