REG - Keywords Studios PLC - Acquisition

Keywords StudiosAnnouncement

05/12/2022 07:00

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RNS Number : 5202I  Keywords Studios PLC  05 December 2022

5 December 2022

  Keywords Studios plc ("Keywords Studios", "Keywords", the "Group")

 Acquisition of Helpshift, Inc

In combination with Keywords' existing player support capability, Helpshift's
in-app AI-driven customer support platform will create an innovative market
leading solution

Keywords Studios, the international technical and creative services provider
to the global video games industry, today announces it has enhanced its player
support and engagement capability by entering into a conditional agreement to
acquire Helpshift, Inc. ("Helpshift"), an innovative consumer-facing digital
support platform, for up to $75 million.

Helpshift is headquartered in San Francisco, with offices in India and the UK,
and has developed a market leading proprietary software-as-a-service ("SAAS")
customer support automation tool used by clients including Supercell, Tencent
and Zynga. The technology efficiently manages and resolves customer support
issues in real-time within its clients' mobile apps, combining conversational
AI, automation, translation and agent support. Helpshift is highly
complementary to Keywords' existing player support offering and will enable
the business to cover the full spectrum of support needs and service levels
within immersive channels like mobile apps, social platforms, gaming consoles,
and XR experiences.

Helpshift will be integrated with Keywords' Player Support business and will
build on the long-standing existing partnership which has seen the two groups
work together effectively for the benefit of many clients. This will further
be enhanced by Keywords' Kantan AI studio, which utilises a highly advanced
machine translation tool and will expand the number of languages supported
in-app by Helpshift's platform and facilitate more efficient multilingual
player support to the benefit of clients.

By combining these capabilities with Helpshift, Keywords will create a market
leading customer support platform. It will leverage Helpshift's technology for
an efficient consumer experience whilst enabling a team of 2,000 experienced
player support agents to provide higher value interactions, and together,
creates an unrivalled offering for customers.

Under the terms of the transaction Keywords will pay a maximum amount of $75m.
This is comprised of initial cash consideration of $60m and up to $15m in cash
and shares, linked to certain conditions and the financial performance of the
business over the next two years. The acquisition of the venture capital
backed business is subject to a number of customary conditions, including the
approval by the requisite number of Helpshift shareholders, and is expected to
complete before the end of 2022.

Helpshift is expected to deliver revenues of approximately $20m and Adjusted
EBITDA of around $2m in 2022. Revenues are expected to grow strongly in 2023
and beyond, with the increasing scale supporting growth in Adjusted EBITDA to
over $8m in 2024 and to a margin level consistent with the Group.

Bertrand Bodson, CEO of Keywords Studios commented:

"We are excited to welcome the talented Helpshift team to Keywords after
partnering with them for a number of years. We have seen first-hand the power
of their technology and its ability to improve player engagement and
retention. We believe being able to deliver a holistic player experience
solution will be a compelling offering for our clients and further support our
strategic partnership ambitions with them. We are really looking forward to
working with the team and supporting their growth as we continue to deliver
against our long-term strategy for the Group."

Eric Vermillion, CEO of Helpshift, commented:

"Helpshift is thrilled to join Keywords, and we believe that by becoming part
of the Group we will drive the long-term growth of our platform and create
tremendous value for our customers. We are excited to be able to combine with
KantanAI and Player Support to provide a holistic, modern support journey
fusing conversational AI, automation, translation, agent support, and more.
Together, we will be able to cover the full spectrum of support needs and
service levels, applying Helpshift's technology for efficiency and the
seamless experience consumers want, and leveraging Keywords' agents to provide
higher value-add interactions. We are looking forward to paving the road for
the future of support with the wider Keywords group."

 

For further information, please contact:

 Keywords Studios                                +353 190 22 730

 Bertrand Bodson, Chief Executive Officer        investors@keywordsstudios.com

 Jon Hauck, Chief Financial Officer

 Giles Blackham, Investor Relations

 Numis Securities                                +44 20 7260 1000

 Stuart Skinner/Kevin Cruickshank/Will Baunton

 MHP Communications (Financial PR)               +44 20 3128 8794

 Katie Hunt/Eleni Menikou/Charles Hirst          keywords@mhpc.com (mailto:keywords@mhpc.com)

 

About Keywords Studios (www.keywordsstudios.com
(http://www.keywordsstudios.com/) )

Keywords Studios is an international technical and creative services provider
to the global video games industry. Established in 1998, and now with over 70
facilities in 26 countries strategically located in Asia, Australia, the
Americas, and Europe, it provides services across the entire content
development life cycle through its Create, Globalise and Engage service lines
to a blue-chip client base of over 950 clients across the globe.

Keywords Studios has a strong market position, providing services to 23 of the
top 25 most prominent games companies. Across the games and entertainment
industry, clients include Activision Blizzard, Bandai Namco, Bethesda,
Electronic Arts, Epic Games, Konami, Microsoft, Netflix, Riot Games, Square
Enix, Supercell, TakeTwo, Tencent and Ubisoft. Recent titles worked on include
Anthem, Star Wars Jedi: Fallen Order, Valorant, League of Legends, Fortnite,
Clash Royale and Doom Eternal. Keywords Studios is listed on AIM, the London
Stock Exchange regulated market (KWS.L).

About Helpshift (www.helpshift.com (http://www.helpshift.com/) )

Helpshift, headquartered in San Francisco, with offices around the globe, is a
consumer-first digital support platform for innovative companies dedicated to
happy customers. Conversational AI, automation, and segmentation guide
customers through a personalized Modern Support Journey to quickly resolve
their problems across immersive channels like mobile apps, gaming consoles,
and XR experiences. Today, the Helpshift in-app support experience is the gold
standard for many of the world's top global mobile apps and games by companies
including Jam City, Quotient, Wildlife Studios, Will Bank, Block, Tencent, and
Supercell. Helpshift powers support interactions on over 4bn devices.

 

 

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