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(Sharecast News) - Video games firm Keywords Studios has entered into a conditional agreement to acquire consumer-facing digital support platform Helpshift for up to $75.0m.
Keywords Studios said on Monday that Helpshift, based in San Francisco, will be integrated with its player support business and build on the pair's "long-standing existing partnership".
The AIM-listed group stated that under the terms of the agreement, it will pay a maximum amount of $75.0m - comprised of initial cash consideration of $60.0m and up to $15.0m in cash and shares, linked to certain conditions and the financial performance of the business over the next two years.
"The acquisition of the venture capital-backed business is subject to a number of customary conditions, including the approval by the requisite number of Helpshift shareholders, and is expected to complete before the end of 2022," added Keywords.
Helpshift was expected to deliver revenues of approximately $20.0m and adjusted underlying earnings of around $2.0m in 2022, with revenues expected to "grow strongly in 2023 and beyond".
As of 1010 GMT, Keywords shares were down 1.02% at 2,918.0p.
Reporting by Iain Gilbert at Sharecast.com
