Business

EQT to Acquire Keywords Studios in £2.1 Billion Deal

Jul 3, 2024 1 min read

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Keywords Studios, a Dublin-based video game services company, has agreed to be acquired by European private equity firm EQT in a deal valued at approximately £2.1 billion ($2.5 billion). The acquisition price of 2,450 pence per share represents a 66.7% premium to the company's last closing price on May 17. The board of Keywords Studios has unanimously recommended the offer to shareholders.

The deal comes amid a challenging period for Keywords, which has faced delayed and canceled orders and a drop in industry spending, affecting its revenue projections. Despite these challenges, the acquisition is expected to enhance Keywords' growth prospects by leveraging EQT's resources. Keywords provides a range of services to major video game developers, including Epic Games and Activision Blizzard, and operates in multiple countries. The transaction requires approval from shareholders representing at least 75% of the votes cast at an upcoming general meeting.

#private-equity #tech #gaming #fortnite

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