Dublin-based Keywords Studios has agreed to a $2.8 billion bid from EQT, a European private equity firm. The offer, which stands at 2,450 pence per share, represents a 66.7% premium over the firm’s last close in May. The board of Keywords Studios believes this bid offers shareholders a significant upfront premium, given the company’s recent revenue challenges due to slower game development trends and deferred projects. EQT claims that with additional investment, Keywords Studios can enhance its growth trajectory and evolve into a global leader in integrated gaming services. Shareholders Franklin Templeton and Pictet have signaled their support for the deal. Keywords received advice from Deutsche Numis and Robey Warshaw. This transaction occurs against the backdrop of a 41% surge in global buyout activities led by private equity firms, totaling $286 billion in the first half of the year.

Video Game Development, Private Equity, Investment Banking,Ireland, Europe, United Kingdom

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