GDC 2019 - Keywords has around $114m in the bank for acquisitions

GDC 2019 - Keywords has around $114m in the bank for acquisitions

Games services and development giant Keywords has quite a tidy amount of cash earmarked for buying more companies.

Speaking to, CEO Andrew Day says that the firm has in the region of $114m in the bank for future acquisitions.

The Keywords boss says it isn't looking to splash all this cash in the near future - unless something special comes along - saying he prefers smaller deals.

"We have around €100m ($114m), something like that," he said.

"We finished the year with no debt - neutral; no cash, no debt - but with €105m ($120m) banking facility which is there for acquisitions. We're very cash generative, so we convert a high percentage of our profits to cash. Last year we made €38m ($43.4m) in profit. That cash generation machine, plus the banking facility, gives us plenty of headroom of acquisitions. I don't think we're going to be spending €100m ($114m) this year unless we find something nice and chunky, but for the kind of sweet-spot acquisitions we do, which are $5m to $10m to $20m range, we'll have plenty of firepower for those."

You can read more from Day in our upcoming interview about Keywords' strategy and what you need to know about doing an IPO 

Editor - PC Games Insider

Alex Calvin launched in August 2017 and has been its editor since. Prior to this, he was deputy editor at UK based games trade paper MCV and content editor for marketing and events for London Games Festival 2017. His work has also appeared in Eurogamer, The Observer, Kotaku UK, Esquire UK and Develop.


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