Team size: 18

What are the most significant cases or transactions that your legal team has recently been involved in?

In 2023, we were pleased to deliver a record year of M&A at Keywords Studios, where we completed five high-quality acquisitions for a total maximum consideration of €225m. In addition, we established a new $400m unsecured multicurrency revolving credit facility agreement with a group of seven lenders, cementing our long-term liquidity and giving us further flexibility to pursue our ambitious M&A pipeline.

We also assisted the group with a significant operational transition, completing the relocation of production out of our Russian studio to studios in Poland, Serbia, Armenia, Malta and the UAE, four of which were new operating hubs. Despite the scale of this undertaking, we were delighted to complete the transition with limited disruption to our business.

Furthermore, we assisted the group with the legal aspects of its R&D initiatives, including Project Ava, a collaborative effort involving multiple studios where the team attempted to create a 2D game solely using generative AI. Over the six-month project, the team shared their findings across the group, highlighting where generative AI has the potential to augment the video game development process, and where it lags behind.

The key learning was that, whilst generative AI tools may simplify or accelerate certain game development production processes, the best results and quality needed can only currently be achieved by experts in their field utilising generative AI as a new, powerful tool in their creative process. In addition, for certain aspects of the video game development process, many of the generative AI tools currently on the market have confidentiality, privacy, IP ownership and IP infringement risks associated with their use, making them unsuitable for commercial production.

As a general counsel, how do you anticipate and prepare for potential legal and regulatory challenges that may arise, particularly in light of emerging technologies and evolving business landscapes?

Anticipating and preparing for potential legal and regulatory challenges requires a deep understanding of our business and the video games and entertainment industries in which it operates. This allows the legal team to effectively navigate evolving landscapes, facilitating business while mitigating risk.

For instance, in response to the emergence of generative AI in 2023, we assisted with the implementation of various measures designed to equip our organisation for the associated legal and regulatory complexities. These initiatives included conducting a comprehensive Board presentation on generative AI, featuring insights from external experts; implementing a group-wide generative AI tool usage policy; leveraging bench resources for AI R&D projects; establishing an AI Centre of Excellence; and forming an AI Council to oversee related initiatives. Through these proactive steps, we helped to ensure that our business remains well informed and prepared to address emerging AI technologies and regulatory frameworks, safeguarding our operations whilst fostering innovation.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most? Which have you found most useful in your legal team?

Looking ahead, we anticipate significant transformations in the landscape of in-house legal operations. In this context, we are currently implementing ServiceNow’s legal service delivery platform, which will boost productivity by automating workflows, facilitate performance monitoring, and enable the establishment of SLAs with our stakeholders. Additionally, we are exploring AI tools to analyse our contracts database with a view to enhancing our ability to provide comprehensive commercial and legal insights to the business. These advancements are poised to elevate the quality of our service delivery, empowering us to achieve more with fewer resources.