Keywords Studios Plc, notable for its expansive role within the gaming industry, is poised to accept a revised acquisition bid from EQT Group. The updated offer, detailed in a statement released by Keywords Studios on Friday, appraises the company at an approximate value of £2 billion ($2.5 billion). The proposed deal offers investors £24.50 per share in cash, a slight increase over EQT’s prior offer from earlier in the week, which stood at £24.30 per share. Despite being less than a previous proposition made in May, which was priced at £25.50 per share, the current bid reflects a competitive valuation.
Keywords Studios, founded in 1998 and listed on the AIM market of the London Stock Exchange since 2013, is a crucial player in providing game development, audio, and art services to various prominent clients in the gaming sector, including Epic Games. These services have cemented its reputation within the industry, subsequently attracting attention from private equity firms like EQT Group. The pending acquisition reflects continued consolidation in the video game support services sector, where demand for sophisticated development and creative solutions is at an all-time high.
For further details, you can read the full statement here.