(Alliance News) - Keywords Studios PLC on Tuesday said it has acquired the Milan-based PR and communications agency, Laboratorio Comunicazione Srl, for an initial consideration of EUR1.0 million.

The global video games technical and creative services provider will also issue up to 12.4 million shares as consideration, three years on from the acquisition date, if certain conditions are met.

LabCom predominantly focuses on the Italian video game sector, with clients including industry brands such as Riot Games, Konami and Bethesda. LabCom will join Keywords Studios' marketing businesses in its Engage service line, complementing the work of Keywords Studios' London-based PR agency Indigo Pearl.

LabCom founder Marco Gianntiempo will continue to lead the agency under Keywords Studios' ownership.

"Having worked closely with Labcom we are very impressed by the quality of the team and the excellent service they provide to household names in the video game and wider entertainment sector in Italy and beyond. This transaction broadens our reach in PR and communications services, and supports our strategy of building out a complete marketing offering for our clients," said Bertrand Bodson, chief executive officer at Keywords Studios.

Giannatiempo added: "LabCom has always aimed to deliver constant growth over time and to broaden our customer service offering to further support our customers, enabling them to take advantage of new opportunities to promote their products. We are very excited by this important agreement and believe it will allow us to achieve excellent results in the coming years in Europe and beyond."

Shares in Keywords Studios were down 0.2% to 2,818.00 pence each in London on Tuesday morning.

By Greg Rosenvinge, Alliance News reporter

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