Keyword expands art service line-up with $6M Strongbox purchase
Game service provider Keywords has been splashing the cash again, this time picking up art asset specialist Strongbox for $6 million.
The deal will see Keywords shell out $4.4 million in cash and pay the remainder via the issue of 160,842 shares.
Keywords purchased Strongbox, which operates in China and Indonesia under the Red Hot CG brand, to increase the capacity of its art service line and bring new clients to the business.
Red Hot's management team will remain with the company and continue to run the Shanghai-based business, while working with other art studios within the group. Come from South African Online Casinos
"The acquisition of Red Hot further strengthens our fast growing, higher margin art services business, enhancing our unique client proposition which comb…
Saber Interactive CEO thinks people are being too hard on ‘naive’ Embracer Group
It wouldn't be unfair to say Embracer Group has garnered something of a bad rep within the game industry.
After spending years dropping cash hand over fist to acquire a vast portfolio of game studios and franchises, the Swedish conglomerate suddenly pumped the brakes and said that, actually, it needed to become sustainable.
In doing so, it quickly gutted the very studios and teams it had spent years acquiring, laying off around 1,400 workers in six months before eventually divesting some of its biggest assets in Gearbox Entertainment and Saber Interactive.
So, who needs to shoulder the responsibility for Embracer's colossal failings? Some might point the finger at Embracer CEO Lars Wingefors, who earlier this year said the company would "always maximize shareholder value in any given situation."
Not Saber …