Johnston Carmichael assists Keyword Studios with acquisition

Johnston Carmichael has completed advising Keyword Studios on its £43m acquisition of Climax Studios, a video game development services company.

Scotland’s largest independent firm of chartered accountants and advisors was approached by the technical services provider to carry out due diligence for the acquisition.

The deal continues Keywords’ goal of becoming the “go-to” technical and creative services platform for the worldwide video games industry.

Climax Studios is one of the country’s longest established game development businesses and provides technical consulting services for various companies, such as Microsoft and Sony.

Andrew Ewing, corporate finance partner at Johnston Carmichael, said: “We were delighted to assist Keywords Studios on the acquisition of Climax Studios.

“These are both great companies whose combination will add value to both entities and spread market coverage. It was refreshing to work in as dynamic an industry as gaming and to work with such a rapidly growing industry leader as Keywords Studios PLC.”