5 December 2022

  Keywords Studios plc ("Keywords Studios", "Keywords", the "Group")

 Acquisition of Helpshift, Inc

In combination with Keywords' existing player support capability, Helpshift's in-app AI-driven customer support platform will create an innovative market leading solution

Keywords Studios, the international technical and creative services provider to the global video games industry, today announces it has enhanced its player support and engagement capability by entering into a conditional agreement to acquire Helpshift, Inc. ("Helpshift"), an innovative consumer-facing digital support platform, for up to $75 million.

Helpshift is headquartered in San Francisco, with offices in India and the UK, and has developed a market leading proprietary software-as-a-service ("SAAS") customer support automation tool used by clients including Supercell, Tencent and Zynga. The technology efficiently manages and resolves customer support issues in real-time within its clients' mobile apps, combining conversational AI, automation, translation and agent support. Helpshift is highly complementary to Keywords' existing player support offering and will enable the business to cover the full spectrum of support needs and service levels within immersive channels like mobile apps, social platforms, gaming consoles, and XR experiences.

Helpshift will be integrated with Keywords' Player Support business and will build on the long-standing existing partnership which has seen the two groups work together effectively for the benefit of many clients. This will further be enhanced by Keywords' Kantan AI studio, which utilises a highly advanced machine translation tool and will expand the number of languages supported in-app by Helpshift's platform and facilitate more efficient multilingual player support to the benefit of clients.

By combining these capabilities with Helpshift, Keywords will create a market leading customer support platform. It will leverage Helpshift's technology for an efficient consumer experience whilst enabling a team of 2,000 experienced player support agents to provide higher value interactions, and together, creates an unrivalled offering for customers.

Under the terms of the transaction Keywords will pay a maximum amount of $75m. This is comprised of initial cash consideration of $60m and up to $15m in cash and shares, linked to certain conditions and the financial performance of the business over the next two years. The acquisition of the venture capital backed business is subject to a number of customary conditions, including the approval by the requisite number of Helpshift shareholders, and is expected to complete before the end of 2022.

Helpshift is expected to deliver revenues of approximately $20m and Adjusted EBITDA of around $2m in 2022. Revenues are expected to grow strongly in 2023 and beyond, with the increasing scale supporting growth in Adjusted EBITDA to over $8m in 2024 and to a margin level consistent with the Group.

Bertrand Bodson, CEO of Keywords Studios commented:

"We are excited to welcome the talented Helpshift team to Keywords after partnering with them for a number of years. We have seen first-hand the power of their technology and its ability to improve player engagement and retention. We believe being able to deliver a holistic player experience solution will be a compelling offering for our clients and further support our strategic partnership ambitions with them. We are really looking forward to working with the team and supporting their growth as we continue to deliver against our long-term strategy for the Group."

Eric Vermillion, CEO of Helpshift, commented:

"Helpshift is thrilled to join Keywords, and we believe that by becoming part of the Group we will drive the long-term growth of our platform and create tremendous value for our customers. We are excited to be able to combine with KantanAI and Player Support to provide a holistic, modern support journey fusing conversational AI, automation, translation, agent support, and more. Together, we will be able to cover the full spectrum of support needs and service levels, applying Helpshift's technology for efficiency and the seamless experience consumers want, and leveraging Keywords' agents to provide higher value-add interactions. We are looking forward to paving the road for the future of support with the wider Keywords group."

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About Keywords Studios (www.keywordsstudios.com)

Keywords Studios is an international technical and creative services provider to the global video games industry. Established in 1998, and now with over 70 facilities in 26 countries strategically located in Asia, Australia, the Americas, and Europe, it provides services across the entire content development life cycle through its Create, Globalise and Engage service lines to a blue-chip client base of over 950 clients across the globe.

Keywords Studios has a strong market position, providing services to 23 of the top 25 most prominent games companies. Across the games and entertainment industry, clients include Activision Blizzard, Bandai Namco, Bethesda, Electronic Arts, Epic Games, Konami, Microsoft, Netflix, Riot Games, Square Enix, Supercell, TakeTwo, Tencent and Ubisoft. Recent titles worked on include Anthem, Star Wars Jedi: Fallen Order, Valorant, League of Legends, Fortnite, Clash Royale and Doom Eternal. Keywords Studios is listed on AIM, the London Stock Exchange regulated market (KWS.L).

About Helpshift (www.helpshift.com)

Helpshift, headquartered in San Francisco, with offices around the globe, is a consumer-first digital support platform for innovative companies dedicated to happy customers. Conversational AI, automation, and segmentation guide customers through a personalized Modern Support Journey to quickly resolve their problems across immersive channels like mobile apps, gaming consoles, and XR experiences. Today, the Helpshift in-app support experience is the gold standard for many of the world's top global mobile apps and games by companies including Jam City, Quotient, Wildlife Studios, Will Bank, Block, Tencent, and Supercell. Helpshift powers support interactions on over 4bn devices.