Keywords pays EUR 1m for Italian PR firm LabCom

The AIM-traded firm said LabCom, founded in 2005 by Marco Giannatiempo, had a team of 16 professionals delivering integrated communication services, including public relations (PR) and digital communications advice, social media management, data-driven influencer campaigns and brand partnerships.

Giannatiempo would continue to lead the agency under Keywords ownership.

LabCom’s primary focus was on Italy’s video game sector, with clients including Riot Games, Konami and Bethesda.

Keywords said LabCom would join its marketing businesses in the ‘Engage’ service line, complementing Indigo Pearl, its full service PR agency based in London.

Under the terms of the transaction, Keywords paid initial cash consideration of €1m, and would issue up to 12,412 new shares three years after the acquisition date if certain conditions were met.

“Having worked closely with LabCom we are very impressed by the quality of the team and the excellent service they provide to household names in the video game and wider entertainment sector in Italy and beyond,” said chief executive officer Bertrand Bodson.

“This transaction broadens our reach in PR and communications services, and supports our strategy of building out a complete marketing offering for our clients.

“We are really looking forward to working with LabCom and supporting its growth as part of the group.”

At 1012 GMT, shares in Keywords Studios were down 0.28% at 2,816p.

Reporting by Josh White for Sharecast.com.