Irish game service provider Keywords Studios has acquired High Voltage Software for up to $50 million.
The deal will see Keywords hand over an initial $23.75 million in cash, and $9.75 million worth of newly issued ordinary shares. A deferred payment of $16.5 million will also be paid out if certain performance targets and other conditions are met before December 31, 2021.
High Voltage has studios in Illinois and Louisiana, and has worked on over 100 games in its 27-year history including titles like Injustice: Gods Among Us, Mutant Year Zero: Road to Eden, and Saints Row: Gat Out of Hell, and Fortnite.
Keywords said the purchase will bolster its game development service line, and explained High Voltage's experience working with propriety game engines, gaming platforms, and genres will further its aim of becoming the 'go to' technical and creative services platform for the global video games industry.
"The multitalented team at High Voltage team brings deep expertise in the Unreal Game Engine development environment, honed particularly well in recent years through working closely with Epic Games on Fortnite, as well as a track record of having worked with many client proprietary game engines, gaming platforms and game genres," commented Keywords chief exec, Andrew Day.
"It also adds a new presence in Chicago, and in New Orleans, for the Group, providing access to an additional pool of talent. I am very pleased indeed to welcome Kerry and the crew at High Voltate Software to the Keywords Studios family and look forward to enabling their continued growth as part of the Group."