Posted on October 14, 2019 by staff

Keywordd Studios secures up to €140m credit facility


Keywordd Studios, the AIM-listed provider of technical services to the global video games industry, has secured a revolving credit facility for up to €140m.

Founded in Dublin in 1998, the firm also has studios in London, Barcelona, Milan, Rome, Tokyo, New Delhi, and the US.

The new financial facility is provided by Barclays Bank, Citibank N.A., HSBC and Silicon Valley Bank for an initial €100m over a three-year term, with the option to extend the facility up to €140m and by a further two years, the company said.

“We are pleased to have finalised this facility which is a significant expansion on our previous arrangement and remains in line with our intention of maintaining a conservative mix of equity and debt funding,” said Andrew Day, CEO of Keywords Studios.

“This facility gives us further flexibility and headroom to invest in building our business both organically and through acquisition.

“We continue to review a strong pipeline of acquisition candidates that want to join our leading, diversified platform for services to the global video games industry and we will continue to select high calibre businesses that enable us to scale up to capture a greater proportion of our clients’ increasing demand for outsourced games’ development and support.”

In June it acquired Vancouver-based accessibility firm Descriptive Video Works as part of its continued global expansion.