Keywords Studios

Keywords Studios plc is an Irish video game industry services company based in Leopardstown. Founded in 1998 by Giorgio Guastalla and Teresa Luppino, the company initially provided localisation services for business software before transitioning to the video game industry. Andrew Day replaced Guastalla as chief executive officer in 2009 and the company completed its initial public offering on the London Stock Exchange in 2013. Since then, Keywords has acquired several other companies, including GameSim, D3T, Heavy Iron Studios, and High Voltage Software.

Keywords Studios plc
FormerlyKeywords International Limited (1998–2013)
TypePublic
ISINGB00BBQ38507
IndustryVideo games
Founded1998 (1998)
Founders
  • Giorgio Guastalla
  • Teresa Luppino
Headquarters
Leopardstown
,
Ireland
Key people
  • Andrew Day (CEO)
  • Jon Hauck (CFO)
  • Sonia Lashand Sedler (COO)
Revenue €326.463 million[1] (2019)
€21.542 million[1] (2019)
€9.909 million[1] (2019)
Total assets €365.944 million[1] (2019)
Total equity €222.958 million[1] (2019)
Number of employees
8,002 (2020)
SubsidiariesSee § Operations
Websitekeywordsstudios.com

History

Giorgio Guastalla, an Italian-Irish businessman who had previously worked for Microsoft's Dublin office, founded Keywords Studios in 1998 with his wife, Teresa Luppino.[2][3][4] The company was established in Leopardstown (a suburb of Dublin) under the name Keywords International and originally provided localisation services for business software.[2][5][6] A regional office in Rome was established in 2001.[7]

Starting in 2004, Keywords became incrementally involved with the video game industry.[4][7] Andrew Day, a Johannesburg native and long-time friend of Guastalla, joined Keywords in March 2009 at Guastalla's request and became the company's chief executive officer.[4][7] At this time, Keywords had revenues of €3.5 million and 50 employees.[8] Day perceived the supplier side in the video game market as highly fragmented and intended to turn Keywords into a "one-stop shop" for various stages of video game development.[8] Furthermore, the company had heavily relied on a single client, which Day aimed to change.[4] He instituted a five-year plan that was to lead to flotation in 2014 and shifted the company's focused entirely towards video games.[4] The previously major client significantly reduced its business with Keywords in 2010.[9] Further regional offices were opened in Tokyo in December 2009, in Montreal in 2010, and in Seattle in 2012.[7]

In June 2013, Keywords announced its intent to float and sell 56% of its shares on the Alternative Investment Market of the London Stock Exchange.[2] By this time, the company had 120 employees and a pre-tax profit of €2.74 million on revenues of €14.34 million.[10] As part of this, a new entity, Keywords Studios Limited, was incorporated in the UK. On 8 July, the new entity was renamed Keywords Studios plc, and it acquired all of the previous entity, Keywords International Limited.[1][11] Numis Securities served as financial adviser and ran the offer,[12] and Keywords Studios floated on 12 July, raising GB£28 million .[13] Prior to the flotation, PEQ Holdings (a company associated with Guastalla, Giacomo Duranti, and Marco De Sanctis) owned 75.1% of shares, with the remaining 24.9% owned by Day. Through the flotation, PEQ Holdings' ownership was reduced to 29.9% and Day's to 13.2%. Cazenove Capital Management acquired 12% of the company, alongside other investments by Artemis and Legal & General.[14]

With the initial public offering completed, Day eyed an acquisition-based approach to corporate growth.[6] Its first acquisition was that of Liquid Violet, a provider of voice production services, in January 2014.[15] At the end of 2016, Keywords Studios had 2,600 employees, including 120 at its Dublin headquarters.[8] The acquisition of VMC in October 2017 added 1,300 employees to Keywords' headcount. According to Davy Group, this acquisition turned Keywords into the largest provider of functionality quality assurance.[8] In July 2018, Keywords announced the creation of Keywords Ventures, a venture capital fund aimed at supporting startups. Its first investment under this fund was in AppSecTest, of which Keywords acquired a 45% stake.[16] In the same month, Igor Efremov was hired as chief creative officer and Andrew Brown as chief marketing officer.[17] Jon Hauck was hired as Keywords' chief financial officer in November 2019, replacing David Broderick after he announced his resignation.[18] During the COVID-19 pandemic in 2020, Day and Hauck took a 20% pay cut.[19] In May that year, the company raised £100 million with the aim of acquiring firms weakened by the pandemic.[20] In January 2021, Keywords Studios hired Sonia Lashand Sedler as its chief operating officer.[21]

Corporate affairs

Keywords Studios is headquartered at Whelan House in the South County Business Park of Leopardstown.[22] As of September 2017, the company leases the entire ground floor and parts of the first and lower ground floor of Whelan House for €422,722.[23] The company employs 2,008 people as of November 2020.[24] The largest single shareholder in Keywords Studios as of April 2019 is PEQ Holdings, itself 90%-owned by Guastalla, at 6.3% of shares worth £58.1 million .[3] Italicatessen, a food import businesses founded by Guastalla and Luppino in 2002, provides catering services for Keywords Studios.[3]

Operations

According to Day, Keywords does not release products under its own name and does not plan to ever do so, which contributes to it staying "under the radar".[6] The company's businesses are divided into seven segments: art, engineering, functional testing, audio recording, translation, localisation, and player support.[8]

Name Acquired Business Ref(s)
Liquid Violet January 2014 Voice production [15]
Babel Media February 2014 Localisation and localistation testing [25]
Binari Sonori May 2014 Localisation [26]
Lakshya Digital October 2014 Art services [27]
Alchemic Dream January 2015 Customer care [28]
Reverb Localização January 2015 Localisation [28]
Kite Team July 2015 (50%; remainder acquired in April 2016) Localisation [29][30]
Liquid Development August 2015 Art services [31]
Ankama Asia March 2016 Operations support [32]
Synthesis Group April 2016 Localisation and audio [33]
Mindwalk Studios May 2016 Art services [34]
Volta Creation July 2016 Visual development and art services [35]
Player Research October 2016 Consultation and user testing [36]
Enzyme Testing Labs November 2016 Localisation and quality assurance [37]
Sonox Audio Solutions December 2016 Localisation [38]
Spov February 2017 Art services [39][40]
XLOC May 2017 Web-based content management; XLOC platform [41][42]
GameSim May 2017 Development [43]
Red Hot May 2017 Art services [44]
La Marque Rose August 2017 Audio recording [45]
Asrec August 2017 Audio recording [45]
Dune Sound August 2017 Audio recording [45]
Around the Word August 2017 Localisation [45]
D3T October 2017 Development [46]
VMC October 2017 Localisation and quality assurance [47]
Sperasoft December 2017 Development [48]
Localizadora Latam (LOLA) December 2017 Audio localisation [49][50]
Maximal Studio March 2018 Voice-over recording [51]
Cord Worldwide April 2018 Music branding [51]
Laced Music April 2018 Record label [51]
Fire Without Smoke May 2018 Development [52]
Blindlight June 2018 Production services [53]
Snowed In Studios July 2018 Development [54]
Yokozuna Data July 2018 Predictive analytics [55]
Studio Gobo August 2018 Technical services [56]
Electric Square August 2018 Technical services [56]
Sound Lab September 2018 Immersive entertainment [57]
The TrailerFarm September 2018 Trailer production [57]
Sunny Side Up December 2018 Marketing [58]
GetSocial February 2019 User acquisition [59]
Wizcorp April 2019 Development [60][61]
Descriptive Video Works June 2019 Audio descriptions [62]
TV+Synchron September 2019 Voice-over recording [63]
Ichi December 2019 Creative and marketing [64]
KantanMT December 2019 Machine translations [64]
Syllabes December 2019 Audio recording [64]
Marching Cube January 2020 Development [7]
Coconut Lizard June 2020 Development [65]
Maverick Media August 2020 Creative and marketing [66]
Heavy Iron Studios September 2020 Development [67]
G-Net Media November 2020 Marketing [68]
High Voltage Software December 2020 Development [69]
Indigo Pearl December 2020 Public relations [70]
Jinglebell December 2020 Audio recording [70]

Accolades

At the 2019 Technology Ireland Awards, Keywords received the "company of the year" and "outstanding achievement in international growth" awards.[71]

References
  1. "Annual Report and Accounts 2019" (PDF). Keywords Studios. 16 April 2020. Archived (PDF) from the original on 18 December 2020. Retrieved 17 December 2020.
  2. Flanagan, Peter (11 June 2013). "Keywords Studios ready to list on London exchange". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  3. Daly, Gavin (14 April 2019). "Founder of gaming studio Keywords racks up huge score". The Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  4. Taylor, Charlie (2 March 2018). "Game on for London-listed Irish firm that operates below the radar". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  5. "SOURCEBOOK: Keywords profile". MCV/Develop. 21 August 2013. Archived from the original on 25 September 2020. Retrieved 17 December 2020.
  6. Smale, Will (5 July 2020). "The gaming boss who can't put the games down". BBC News. Archived from the original on 11 December 2020. Retrieved 17 December 2020.
  7. "About Us – History of Keywords Studios". Keywords Studios. 2020. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  8. Woods, Killian (20 November 2017). "This billion-euro Irish firm is shopping its way to become a gaming industry giant". Fora.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  9. Hamilton, Peter (4 August 2019). "'Fail fast, learn and try again'". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  10. Doyle, Carmel (11 June 2013). "Dublin-based Keywords Studios plans stg£10m IPO". Silicon Republic. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  11. "KEYWORDS STUDIOS PLC". Companies House. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  12. Flanagan, Peter (10 July 2013). "Video game translation firm set to raise €30m in AIM listing". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  13. Newenham, Pamela (12 July 2013). "Keywords Studios begins trading on AIM in London". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  14. Webb, Nick (14 July 2013). "Keywords Studios' bosses 'locked in' following €70m stock-market float". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  15. Ashcroft, Jamie (16 January 2014). "Keywords Studios acquires Liquid Violet in next step of expansion plan". Proactive Investors. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  16. Kelly, Louise (5 July 2018). "Dublin-based Keywords Studios to support startups with new venture capital fund". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  17. Taylor, Haydn (10 July 2018). "Former EA and THQ talent fill out management ranks at Keywords Studios". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  18. Hamilton, Peter (17 June 2019). "Keywords Studios appoints new CFO". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  19. Donnelly, Ellie (16 April 2020). "Acquisitions help revenue growth at Keywords Studios, but 2020 guidance suspended". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  20. Pogatchnik, Shawn (14 May 2020). "Keywords Studios launches £100m share placing to fund new wave of acquisitions". Independent.ie. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  21. Partleton, Kayleigh (19 January 2021). "Keywords Studios welcomes Sonia Lashand Sedler as its new COO". Pocket Gamer.biz. Archived from the original on 19 January 2021. Retrieved 21 January 2021.
  22. Comiskey, Justin (19 September 2017). "Two Leopardstown blocks priced in excess of €20m offer 6.5% yield". The Irish Times. Archived from the original on 12 November 2020. Retrieved 17 December 2020.
  23. "Accenture & Whelan House" (PDF). Savills. September 2017. Archived (PDF) from the original on 18 December 2020. Retrieved 17 December 2020 – via Amazon Web Services.
  24. "Investor Presentation" (PDF). Keywords Studios. November 2020. Archived (PDF) from the original on 18 December 2020. Retrieved 17 December 2020.
  25. Handrahan, Matthew (18 February 2014). "Keywords acquires Babel Media for £5 million". GamesIndustry.biz. Archived from the original on 19 January 2015. Retrieved 17 December 2020.
  26. "Keywords acquires Binari Sonori". MCV/Develop. 9 May 2014. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  27. Ashcroft, Jamie (10 October 2014). "Keywords Studios acquires video game artist Lakshya Digital". Proactive Investors. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  28. Buckley, Chris (7 January 2015). "Keywords Studios makes two new acquisitions". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  29. Handrahan, Matthew (16 July 2015). "Keywords Studios acquires Kite Team". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  30. Ashcroft, Jamie (6 April 2016). "Keywords Studios to take all of Kite Team early". Proactive Investors. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  31. Brightman, James (20 August 2015). "Keywords Studios buys Liquid Development". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  32. Pearson, Dan (22 March 2016). "Keywords Studios expands to Philippines". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  33. Handrahan, Matthew (13 April 2016). "Keywords buys the Synthesis Group in €18 million deal". GamesIndustry.biz. Archived from the original on 2 November 2016. Retrieved 17 December 2020.
  34. Mann, Juliet (31 May 2016). "Mindwalk gives Keywords a "foothold" in China, says chief". Proactive Investors. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  35. "Keywords acquires Volta Creation for £3m". MCV/Develop. 29 July 2016. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  36. Pearson, Dan (26 October 2016). "Keywords Studios acquires Player Research in deal worth £1.3m". GamesIndustry.biz. Archived from the original on 7 September 2017. Retrieved 17 December 2020.
  37. Cowley, Ric (17 November 2016). "Keywords Studios continues acquisition streak by snapping up Enzyme Testings Labs for $3.65 million". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  38. Ghiurca, Andreea (22 December 2016). "Keywords Studios keeps on acquiring and picks up Sonox Audio Solutions for €650,000". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  39. Cowley, Ric (17 February 2017). "Keywords continues acquisition spree with $1.5 million purchase of animation studio Spov". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  40. Taylor, Charlie (17 February 2017). "Dublin video games service firm Keywords buys Spov for £1.2m". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  41. Cowley, Ric (10 May 2017). "Keywords Studios continues spending spree by acquiring CMS developer XLOC for $900,000". PC Games Insider. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  42. Alexander, Leigh (28 April 2010). "XLOC 4.0 Adds New API For Real-Time Dev Process Integration". Gamasutra. Archived from the original on 21 January 2021. Retrieved 27 December 2020.
  43. Dring, Christopher (17 May 2017). "Keywords moves into software engineering with GameSim acquisition". GamesIndustry.biz. Archived from the original on 5 January 2018. Retrieved 17 December 2020.
  44. Chapple, Craig (22 May 2017). "Keywords splashes $6 million on Asian art services provider Red Hot CG". Pocket Gamer.biz. Archived from the original on 3 October 2019. Retrieved 17 December 2020.
  45. Batchelor, James (4 August 2017). "Keywords acquires four Paris-based firms". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  46. Handrahan, Matthew (19 October 2017). "Keywords buys d3t for £3 million". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  47. Batchelor, James (24 October 2017). "Keywords begins £50m VMC acquisition". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  48. Handrahan, Matthew (13 December 2017). "Keywords buys Sperasoft for $27 million". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  49. Cowley, Ric (15 December 2017). "Keywords picks up LATAM localisation firm LOLA just two days after its most recent acquisition". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  50. Taylor, Charlie (15 December 2017). "Dublin-based Keywords Studios makes second acquisition this week". The Irish Times. Archived from the original on 9 November 2020. Retrieved 17 December 2020.
  51. Taylor, Haydn (9 April 2018). "Keywords Studios acquire multiple audio service firms". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  52. Kennedy, John (30 May 2018). "Dublin's Keywords Studios buys Fire Without Smoke for £5.2m". Silicon Republic. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  53. Reddan, Fiona (11 June 2018). "Keywords Studios acquires US company for up to $10m". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  54. Calvin, Alex (20 July 2018). "Keywords snaps up Canada's Snowed In Studios". PC Games Insider. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  55. Chapple, Craig (23 July 2018). "Keywords snaps up predictive analytics outfit Yokozuna Data from Silicon Studio in $1.5m deal". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  56. Taylor, Haydn (20 August 2018). "Keywords Studios acquires Studio Gobo for £26m". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  57. Scott, Andrew (18 September 2018). "Keywords Studios reports 'excellent' first half; acquires UK-based Trailerfarm". Proactive Investors. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  58. Batchelor, James (21 December 2018). "Sunny Side Up marketing firm is Keywords' latest acquisition". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  59. Taylor, Charlie (21 February 2019). "Keywords Studios acquires GetSocial for undisclosed sum". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  60. O'Brien, Ciara (23 April 2019). "Keywords Studio buys Tokyo-based Wizcorp for €953,000". The Irish Times. Archived from the original on 8 November 2020. Retrieved 17 December 2020.
  61. Barton, Seth (2 August 2019). "Bigger in Japan: Why Keywords bought developer Wizcorp". MCV/Develop. Archived from the original on 29 September 2020. Retrieved 17 December 2020.
  62. Forde, Matthew (12 June 2019). "Keywords sets up shop in Vancouver with Descriptive Video Works acquisition". PC Games Insider. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  63. Kerr, Chris (18 September 2019). "Keywords expands game audio services with TV+Synchron Berlin acquisition". Gamasutra. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  64. Forde, Matthew (17 December 2019). "Keywords Studios makes $12 million triple acquisition of Ichi, Kantan and Syllabes". Pocket Gamer.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  65. Earley, Kelly (26 June 2020). "Keywords Studios acquires UK development studio Coconut Lizard". Silicon Republic. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  66. Barton, Seth (27 August 2020). "Keywords acquires Pokemon creative agency Maverick Media to strengthen marketing services offering". MCV/Develop. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  67. Batchelor, James (17 September 2020). "Keywords splashes $13.3m on Heavy Iron Studios acquisition". GamesIndustry.biz. Archived from the original on 19 September 2020. Retrieved 17 December 2020.
  68. Dealessandri, Marie (25 November 2020). "Keywords Studios acquires marketing agency G-Net Media". GamesIndustry.biz. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  69. Dealessandri, Marie (15 December 2020). "Keywords acquires High Voltage Software for $50m". GamesIndustry.biz. Archived from the original on 15 December 2020. Retrieved 17 December 2020.
  70. Kerr, Chris (17 December 2020). "Keywords acquires PR company Indigo Pearl and recording studio Jinglebell". Gamasutra. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
  71. Taylor, Charlie (22 November 2019). "Keywords Studios named technology company of the year". The Irish Times. Archived from the original on 18 December 2020. Retrieved 17 December 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.