Dublin-based Keywords Studios, a video game services company, has made its third acquisition this year with the purchase of AMC.

The a video game art creation studio has been bought for a total consideration of €2.8m.

The acquisition adds “significant talent and experience” to Keywords’ art service line of business and establishes its presence in Eastern Europe, according to a statement from Keywords.

The purchase of AMC will also bring opportunities for certain parts of the group’s other service lines in the region, the company said.

In addition, it “advances Keywords’ strategy to become the 'go to' technical and creative services platform for the global video games industry.”

Founded in 2009 and based in Romania, AMC is a specialist art studio servicing both US and European clients.

The studio's 63 staff, led by studio head Cristina Neamtu, focuses primarily on characters, environment, buildings, vehicle and weapons assets in a variety of styles including realistic 3D, photo-realistic 3D, stylized 2D and illustration.

AMC works for large publishers and developers including Activision, Wargaming, Zynga and others on franchises including Call of Duty, World of Tanks, Spider Man, and Planet of the Apes.

Cristina Neamtu and the AMC team will remain with the business.

Last year AMC recorded revenue and adjusted earnings before interest, taxation, depreciation, and amortisation of €2.3m and €500,000 respectively.

Under the terms of the deal, Keywords will pay an initial cash consideration of €2m and the equivalent of €800,000 in new ordinary shares to be issued on the first anniversary of completion.

Jon Hauck, joint interim CEO of Keywords Studios, said: “We are excited by the expertise and experience that AMC will bring to our art service line and by the growth opportunities for the service line as well as for Keywords’ wider business in the region.”

Earlier this month Keywords said it expects to report revenues of around €238m for the first six months of this year, a 37pc jump on the same period in 2020.

On an organic basis, excluding the impact of currency movements and acquisitions, group revenues are expected to increase by approximately 23pc. Adjusted profit before tax is expected to be approximately €40m, an increase of over 80pc from the prior year, which was badly disrupted in the earlier stages of Covid.