LONDON (ShareCast) - (Sharecast News) - Video games industry services provider Keywords Studios acquired creative marketing agency Maverick Media on Thursday as part of a deal worth as much as £3.6m.
Keywords will pay a non-contingent consideration of £2.7m for the Clerkenwell-based business, made up of £2.4m in cash and the issue of 13,579 new ordinary shares on the first anniversary of completion.

A further consideration of up to £900,000 will be satisfied in a mixture of cash and up to 22,632 shares based upon performance targets over the first six months post-completion.

The AIM-listed group said the acquisition furthered its strategy to become the "go-to" technical and creative services platform for the global video games industry.

Chief executive Andrew Day said: "We are delighted that Maverick and its talented team are joining Keywords Studios. Maverick is a strong brand with a 25-year body of work in servicing video games publishers and developers and has grown successfully with the industry.

"We are excited about the expertise that Maverick will bring to our wider marketing business and ultimately to our client base across the group."

As of 0930 BST, Keywords shares were up 1.65% at 2,287.10p.

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