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Keywords Studios PLC - International technical and creative services provider to the global video games and entertainment industries - Buys Digital Media Management Inc, a US-based full-service social media agency, for an initial consideration of $67.5 million, comprising $57.4 million in cash and $10.1 million in shares on completion. There is also a maximum deferred contingent consideration of $32.5 million, payable in a mix of cash and new ordinary shares dependant on the future performance of the company over the two years from completion./The cash component of the initial consideration will be funded by drawing down on part of Keywords’ existing €150 million revolving credit facility. Chief Executive Officer Bertrand Bodson says: ‘The acquisition of DMM brings Keywords a top tier social marketing agency, world-class production location and capability, as well as a technology platform that can help scale its influencer offering. It extends our capabilities in an increasingly critical area of the marketing landscape, accelerating our progress towards being able to offer a truly holistic solution to our clients’ engagement needs.’ Current stock price: 2,838.00 pence 12 month change: up 4.0% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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