LONDON (ShareCast) - (Sharecast News) - Technical services provider Keywords Studios acquired Japanese games developer Wizcorp from Ankama and Silicon Studio Corporation for a cash consideration of JPY 120m (£825,720).
Keywords snapped up the Tokyo-based outfit, with particular expertise in HTML5 and other mobile technologies, in order to continue the geographic expansion of its engineering service line into the Japanese game development market

With annual revenues of JPY 310m (£2.13m), Wizcorp will extend Keywords' engineering service line by providing a platform for expansion in Japan's games development market, one of the largest in the world.

The AIM-listed firm noted acknowledged that the business had not been a profit centre under its existing ownership structure, but expects it to achieve margins "at similar levels" to its existing engineering service line.

Keywords' Asian managing director Christopher Kennedy said: "Keywords is excited at the opportunities Wizcorp will bring the group and its clients in the Japanese market as it becomes the latest member of our global Engineering service line.

"We see a strong opportunity to accelerate Wizcorp's growth by building on its existing services for some of Ankama's game development needs and providing it with opportunities to work with Keywords' extensive client base."

As of 0830 BST, Keywords shares had picked up 0.89% to 1,483.13p.

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