Keywords Studios PLC on Monday said it has acquired game development studio, The Multiplayer Group Ltd, for £76.5 million from metaverse company, Improbable Worlds Ltd.

The Dublin-based provider of technical and creative services for video game production said the consideration was paid in cash and was mainly funded using its existing revolving credit facility.

Keywords said it expects MPG to deliver double-digit percentage revenue growth in 2024, with margins in line with those of its Create division. It added that it anticipates the transaction to be earnings per share accretive in the first full year post-acquisition.

‘MPG provides a range of services including both co-development and full game development to a global client base, and also has functions working on data science, new technology and [artificial intelligence]. The business has grown rapidly since its foundation in 2018 and now employs over 360 staff globally,’ Keywords commented.

Additionally, Keywords affirmed MPG’s leadership team will remain.

Keywords Chief Executive Officer Bertrand Bodson said: ‘We are thrilled to welcome the MPG team to Keywords. MPG is a business that we have long admired for its high-quality work, blue-chip client base, deep experience in developing AAA multiplayer games and its use of technology and data analytics. This is another important step in building out our platform and expanding our offering to encompass specialised multiplayer game development at scale, which is increasingly in demand for live services.’

Shares in Keywords were up 3.5% at 1,462.00 pence each in London on Monday morning.

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