30 March 2023

Keywords Studios plc ("Keywords Studios", "Keywords", the "Group")
Acquisition of Digital Media Management, Inc. ("DMM", the "Company")
Adds significant US expertise and scale to Keywords' digital and social media marketing
Keywords Studios, the international technical and creative services provider to the global
video games and entertainment industries, is pleased to announce that it has acquired
Digital Media Management, Inc, a leading US-based full-service social media agency.
DMM is an award-winning social media marketing agency founded in 2010 by Luigi Picarazzi.
Headquartered in Los Angeles with a staff of over 200 employees, the agency provides
integrated social media strategy, management, creative and influencer solutions, mainly to
the US entertainment and video games sectors. The Company’s client base includes
Hollywood movie studios, streaming platforms, video games publishers, entertainment
brands and public figures, which DMM helps build and connect with their target audiences
across all social media platforms, with a focus on driving audience acquisition, engagement,growth, conversion and retention.
The Company recently completed construction on an 11,000 square-foot production studiothat will allow it to create original social media content and experiential activations that
support their clients’ marketing efforts. It also comes with its proprietary software Creator
Lab that allows it to partner influencers with brands that have expressed affinity for aparticular game or entertainment property.
There is increasing convergence between the video games and media and entertainment
sectors, with more cross over of content and brands between the two as well as greatercommonality across the fandom and influencer space. DMM is well positioned to benefit
from this by deeply connecting with players and fans across all social media platforms,bringing key skills and expertise in an area where Keywords has identified strong demand
from its clients. In addition to its social media expertise, DMM brings experience in socialand short format video assets, complementing Keywords’ longer, trailer format contentexpertise, as well as award winning community management, YouTube management, andcontent creator partnership services.
DMM will join Keywords’ Engage service line which brings together experts from its
Marketing, Player Support, and Player Research units, and will be a key building block inaccelerating Keywords’ vision of offering clients a holistic marketing solution.
DMM, which is currently majority founder-owned, has grown rapidly in recent years and in
2022, delivered revenues of approximately $34m and EBITDA of approximately $8.5m. The
terms of the transaction allow for initial consideration of $67.5m, comprising $57.4m incash and $10.1m in shares on completion. There is also a maximum deferred contingent
consideration of $32.5m payable in a mix of cash and new ordinary shares dependant onthe future performance of the Company over the two years from completion. The cashcomponent of the initial consideration will be funded by drawing down on part of Keywords’
existing €150m revolving credit facility. The new ordinary shares to be issued will be subject
to one-year lock in periods and orderly market provisions for a further year. Postacquisition, Luigi Picarazzi will continue to lead the business supported by his COO, AdamReynolds.
Bertrand Bodson, CEO of Keywords Studios, commented:"The acquisition of DMM brings Keywords a top tier social marketing agency, world-classproduction location and capability, as well as a technology platform that can help scale its
influencer offering. It extends our capabilities in an increasingly critical area of themarketing landscape, accelerating our progress towards being able to offer a truly holistic
solution to our clients’ engagement needs. With the ever-increasing convergence ofentertainment and video gaming, we believe that delivering DMM’s social media marketing
expertise to our clients will enable them to enhance their engagement with their playerbase. We are looking forward to working with Luigi, Adam and the broader DMM team as
we continue to deliver against our growth objectives."
Luigi Picarazzi of DMM, commented:"We are excited by the opportunity to join Keywords, which will extend our reach andsupport us in the next stage of our growth and development, building on our successes todate. The combination of DMM’s market-leading digital and social media capabilities andKeywords’ existing offering will provide a compelling proposition across the combined,
broader client base in both the entertainment and video gaming sectors, which continue toconverge. We are excited to continue our journey together.”For further information, please contact:
Investor Contacts:

Media Contacts:

Keywords Studios

MHP Group

Giles Blackham
Director of Investor Relations

Katie Hunt / Eleni Menikou /Charles Hirst+44 7714 134 681+44 20 3128 8794

gblackham@keywordsstudios.com

keywords@mhpgroup.com

Numis Securities
Nominated Adviser & Broker
Stuart Skinner / Will Baunton+44 20 7260 1000

This Announcement contains inside information for the purposes of the market abuse
regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtueof the European Union (Withdrawal) Act 2018 ("UK MAR").
About Keywords Studios (www.keywordsstudios.com)
Keywords Studios is an international technical and creative services provider to the global
video games and entertainment industries. 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,
Globalize and Engage service lines to a large blue-chip client base across the globe.
Keywords Studios has a strong market position, providing services to 24 of the top 25 mostprominent games companies. Across the games and entertainment industry, clients includeActivision 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 Elden Ring, Star Wars Jedi: Fallen Order, Valorant, Leagueof Legends, Fortnite, Clash Royale and Doom Eternal. Keywords Studios is listed on AIM, theLondon Stock Exchange regulated market (KWS.L).
About DMM (https://digitalmediamanagement.com)
Founded in 2010 by CEO Luigi Picarazzi, Digital Media Management (DMM) is a leading fullservice social media agency specializing in social-first, “always-entertaining” marketing.
DMM works with movie studios, television networks, video games companies, streaming
services and consumer brands to create ground-breaking social media campaigns via fanactivations, innovative content creation, results-driven paid media planning, and strategic
influencer-brand partnerships.