Dublin-headquartered Keywords Studios Plc, has acquired Gurgaon-based art services provider for the video games industry Lakshya Digital Pvt. Ltd for about $4 Mn (INR 25 Cr.) With this, Keywords Studios has agreed to pay the shareholders of Lakshya $4 Mn in two tranches.
Keywords has acquired 91% stake in the company for about $3 Mn in cash and the remaining 9% of Lakshya will be acquired for a total of $1 Mn in October next year.
Lakshya was founded in 2004 by Shantanu Prakash, promoter of Educomp, alongwith 3 others. It is an interactive entertainment and game development services studio.
It currently employs about 270 people. Post-acquisition, the business development team of Lakshya will be integrated into the Keywords sales team force.
Lakshya have grown into one of the largest game production studios in South Asia; with two game development studios in Gurgaon and Pune, an Office in San Diego, California, USA.
Keywords is an international service provider to the Video Game Industry with offices in Dublin, London, Tokyo, Seattle, Montreal, Singapore and Rome.