Keywords has taken a step into the games analytics market with the acquisition of Yokozuna Data (YD) for $1.5m. This follows the recent engineering acquisition of Snowed In (for C$4.5m) and the establishment of Keywords Ventures. We do not expect these developments to have a material effect on our forecasts in the near term, but they do highlight the company’s investment in building higher value-added, IP-based business lines. Given Keyword’s strong coverage of the gaming supply chain, we believe the business is well placed to gain leverage from these investments.
