Keywords snags market firm Digital Media Management
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Keywords Studios has announced that it has acquired marketing firm Digital Media Management (DMM).
Keywords will pay $67.5m upfront, with $57.4m in cash and the remainder in shares.
Additionally, depending on the DMM's future performance, there is a consideration of $32.5 million, which will be a combination of chase and shares. The final cost could be higher, as Keywords has agreed to pay an additional $32.5m in a mix of cash and shares if DMM hits certain performance targets over the next two years.
DMM was established in 2010 by Luigi Picarazzi and is based in Los Angeles. It provides video production, web design, and social media campaign services. Its client list includes Warner Bros., Paramount Pictures, and Lionsgate.
With the new acquisition, Keywords further expands its US digital and social media marketing services to its Engage division.
"With the ever-increasing convergence of entertainment and video gaming, we believe that delivering DMM's social media marketing expertise to our clients will enable them to enhance their engagement with their player base," said Keywords Studios CEO Bertrand Bodson.
The news comes more than a month after the service's provider announced that it acquired US-based games PR firm Fortyseven Communications.
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