Keywords acquires High Voltage Software for $50 million
The deal will see Keywords hand over an initial $23.75 million in cash, and $9.75 million worth of newly issued ordinary shares. A deferred payment of $16.5 million will also be paid out if certain performance targets and other conditions are met before December 31, 2021.
High Voltage has studios in Illinois and Louisiana, and has worked on over 100 games in its 27-year history including titles like Injustice: Gods Among Us, Mutant Year Zero: Road to Eden, and
Saints Row: Gat Out of Hell, and
Fortnite.
Keywords said the purchase will bolster its game development service line, and explained High Voltage s experience working with propriety game engines, gaming platforms, and genres will further its aim of becoming the go to technical and creative services platform for the global video games industry.
High Voltage provides game development services to the video games industry.
The acquisition will further Keywords strategy to become the “go to” technical and creative services platform for the global video games industry, according to a statement from the group.
High Voltage is expected to generate earnings of circa $9m (€7.4m) next year.
Under the terms of the acquisition, Keywords will pay a maximum amount of $50m for the business.
This is comprised of initial consideration of $23.75m in cash and the equivalent of $9.75m in new ordinary shares.
There is also a deferred consideration of up to $16.5m, in a mix of cash and new ordinary shares, based on performance targets and other conditions being met on or prior to 31 December 2021.