The acquisition deal for this video gaming company means 2022 is setting even more records.

Keywords Studios, based out of Dublin, Ireland is acquiring Forgotten Empires, in a deal valued at up to $32.5 million.

Forgotten Empires, an American-based studio, generated $7.2 million in revenue last year and employs over 50 developers and staff. The company specializes in creating real-time strategy games like its “Age of Empires” series, which is owned by Microsoft.

Keywords Studios is a video game “services” company offering a technical and creative services platform utilized by some of the largest gaming companies on earth. These include Microsoft, Epic, Activision, EA, Konami and Ubisoft.

Keywords CEO, Bertrand Bodson, said, “Forgotten Empires’ talented team brings experience and expertise particularly in real-time strategy games and will be a great addition to our client offering and game development capability.”

The deal terms stipulate Keywords will pay a maximum of $32.5 million, $15.75 million upon closing and the remainder awarded should Forgotten Empires reach certain contingencies and growth targets.

In the previous two-plus years, Keywords has been on an acquisition spree, purchasing both studios and media companies. Last year the company added Waste Collective and Wicket Witch to its portfolio, following a 2020 that saw it purchase Indigo Pearl, High Voltage Software and Jinglebell Communications.

Of course, Keywords is not alone in the acquisitions game. Large gaming and tech companies have been acquiring smaller players in a “growth by acquisition” strategy that shows little signs of slowing down.

2022 is already the biggest year for dealmaking in the history of the video game industry, and more deals are expected.

See more deals, and potential deal targets for 2022 and 2023, HERE

Or read more details about the Keywords/Forgotten Empires deal, HERE