TIDMKWS
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
Bertrand Bodson, Chief Executive 730
Officer investors@keywordsstudios.com
Jon Hauck, Chief Financial Officer
Giles Blackham, Investor Relations
Numis Securities
Stuart Skinner/Kevin Cruickshank/Will +44 20 7260
Baunton 1000
MHP Communications (Financial PR) +44 20 3128
Katie Hunt/Eleni Menikou/Charles 8794
Hirst keywords@mhpc.com
About Keywords Studios ( 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 )
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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December 05, 2022 02:00 ET (07:00 GMT)
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