Keywords acquires Halo co-developer Indeed Affinity

Keywords Studios has acquired US developer Indeed Affinity for an undisclosed sum.

The studio was founded in 2006 by a group of former Bungie employees and specializes in the collaborative development of AAA games. Projects the company has worked on include Hogwarts Legacy and Gotham Knights, as well as several titles in the Call of Duty and Halo series, including Halo Infinite.

Certain Affinity will continue to be led by its management team, which includes Founder and CEO Max Hoberman and President and COO Paul Sams. The couple currently oversees a workforce of 180 employees across the U.S. and Canada.

The acquisition is subject to closing conditions and includes both an upfront cash purchase funded by Keywords' existing revolving credit facility and an earn-out component based on Specific Affinity's performance.

“During this most difficult time in the market, we are thrilled to be able to provide stability and a supportive home for our team,” Hoberman said in a statement. “Keywords’ respect for our talent and culture, as well as their willingness to invest in our growth, is unparalleled.”

“Paul and I look forward to working with them to chart a course for carefully expanding our core joint development activities, refining our lead development capabilities and driving the growth of the Create division.”

Back in April, the studio laid off 25 US-based employees, or 10% of its workforce, with Hoberman citing “an industry-wide slowdown in funding for new lead and co-development projects” and a “reluctance from third-party investors” as the main reasons for the decision.

Bertrand Bodson, CEO of Keywords, added: “We are pleased to welcome certain Affinity to the Keywords group. We have great respect for their business and reputation. They bring a wealth of knowledge, experience and expertise to our Create department and complement our existing skills and knowledge.” We are expanding our presence, particularly in the USA and Canada.

“We look forward to working with Max, Paul and their team over the coming years to further drive the growth of our Create department and overall business.”

Certain Affinity is Keywords' second acquisition of 2024, following its purchase of British developer Wushu Studios in August.