Games services giant Keywords Studios has acquired Quebec City-based company Sunny Side Up for $4.3 million.
The Canadian firm specialises in creating marketing assets for developers and publishers. Its services include making trailers, key art assets and motion graphic production.
Keywords will pay $3.5m cash upfront, with the rest financed through the issue of 60,179 new ordinary shares.
The acquisition is expected to go through no later than January 4th 2019.
It's always sunny
For the year ending September 30th 2018 Sunny Side Up generated revenues of around $886,000. Its clients are said to include Ubisoft, EA and Eidos.
"We are delighted to welcome Thomas and the talented Sunny Side Up team to the Keywords family,” said Keywords CEO Andrew Day (pictured, main).
“Following our acquisitions of Fire Without Smoke and The TrailerFarm, Sunny Side Up’s high-quality game trailers, technical expertise and marketing service experience further extends the Group’s geographic, client reach and scale in this relatively new and exciting area for Keywords.
“As part of the Group, Sunny Side Up will be able to leverage our well-established presence in Montreal and Quebec City to support its continued growth.
“We will, as usual, provide a fuller trading update by the end of January but, as we approach our year-end, we expect adjusted profit before tax to be within the range of analyst forecasts at around €37m on revenues in the region of €250m (around €258m on a constant currency basis), which would represent increases of 61% and 65% on the prior year respectively.”