Dublin-based Keywords Studio buys Lakshya $4m

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Keywords Studios has acquired Indian art production firm Lakshya Digital for $4m.

As a result, the Dublin-based contractor to the video games industry will have a foothold in a new sector of the video games industry - until now it focused on voice and languages services.

"By providing us with an entry point into the large, growing yet fragmented art outsourcing market, the acquisition of Lakshya provides Keywords with additional growth opportunities as well as cost and revenue synergies,” said Andrew Day, Keyword’s chief executive.

“It will enable the Group to have earlier involvement in the development cycle of video games titles, it will enable us to share one facility at Gurgaon (New Delhi) where both Lakshya and Babel Media are located and it will provide us with a base from which to expand further in the art outsourcing market."

Last year Lakshya had revenues of $4.05m and a $370,000 pre-tax profit. The company had assets worth $1.3m.