Keywords buys Sperasoft for $27 million

Services company eyes co-development with its latest acquisition

By Matthew Handrahan.Published Wednesday 13th December 2017, 8:46am GMT

Keywords has further grown its network of studios with yet another acquisition, buying Sperasoft Inc and Sperasoft Studio for a combined fee of $27 million.

The deal comprises $22 million in cash, with $1 million of that fee deferred until the deal's first anniversary. The remaining value was provided in the form of 260,049 new shares in Keywords, which will also be issued a year from the closing date. Sperasoft's founders - Igor Efremov, Alexei Kudriashov and Mark Rizzo - will remain at the company.

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Sperasoft was founded in 2004, and has built a team of 400 engineers and artists across studios in Saint Petersburg and Volgograd in Russia, Krakow in Poland, and its headquarters in Santa Clara, California.

The company provides a range of services associated with development and live operations, but Keywords emphasised full game development and co-development in its statements about the acquisition. Specifically, Sperasoft's Saint Petersburg team recently worked alongside five Ubisoft studios on Assassin's Creed: Origins

"The acquisition of Sperasoft provides us with an entry point into co-development, positioning us as a strategic partner to games developers at the early stages of the games development lifecycle," said Keywords CEO Andrew Day.

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"As games are becoming bigger and are higher definition, game developers are increasingly relying upon co-development arrangements with companies like Sperasoft to provide them with broader capability to develop both initial games and additional content and features post launch."

Sperasoft doubled its revenue from $10.4 million in 2015 to anb expected $20 million for calendar 2017. It expects EBITDA of $2 million for this year.

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