London marketing services company acquired in £3.2m deal
Marketing services company Ichi has been acquired by Dublin-headquartered gaming company Keywords Studios in a £3.2m deal.
One of three acquisitions announced by Keywords, Ichi has 13 staff at its Holborn office in London.
It provides creative and marketing services to game publishers such as Square Enix, NaturalMotion, Deep Silver and Sports Interactive, as well as the likes of Puma and Netflix.
It generated turnover of £2.9m for the 12 months to June 2019. Of the total acquisition deal, £2.24m will be paid in cash.
Founder Liz Corless will continue as the firm’s studio head, with the rest of the staff remaining with the business.
The deal - alongside the purchase of translation technology firm Kantan and gaming audio specialist Syllabes - forms part of Keywords Studios' strategy to be the "go-to technical and creative services platform" for the global video games industry.
Andrew Day, CEO of Keywords Studios, said: “We are delighted to have made three high calibre acquisitions.
“Ichi’s high value-add branding strategy and marketing expertise are key to determining the success of a game or product, so they will be a valuable addition to the Group’s range of marketing services.
“We look forward to working with the highly experienced and creative teams at Kantan, Ichi and Syllabes, to support their growth as part of the Keywords family as they, in turn, help us to build further upon our reputation as the leading provider of highly specialised video games services around the world.”