Keywords Studios to acquire Certain Affinity

(Sharecast News) - Video games industry company Keywords Studios has entered into an agreement to acquire US-based game development studio Certain Affinity.

Keywords Studios said on Friday that under the terms of the acquisition, consideration will comprise an upfront and earn-out component and was expected to fall within its targeted valuation range.

The AIM-listed group stated the upfront consideration will be paid in cash and funded from its existing revolving credit facility.

"We are thrilled to welcome Certain Affinity to the Keywords Group," said chief executive Bertrand Bodson. "They bring a wealth of knowledge, experience, and expertise to our Create division, complementing our existing skills and expanding our presence notably in the US and Canada."

As of 1030 BST, Keywords shares were untraded 2,438.0p.

Reporting by Iain Gilbert at Sharecast.com