Keywords Studios reaches £2.2bn acquisition deal with Swedish investment firm EQT

Keywords Studios has entered into a takeover agreement with Swedish investment firm EQT for approximately £2.2 billion, pending approval by its shareholders.

In a statement, Keywords – a “fully integrated creative and technology company” that backs companies including Activision Blizzard, EA, Epic and Square Enix – said it was pleased to have reached agreement on terms for a recommended cash acquisition of £2,450 per annum per share.

“I am incredibly proud of our passionate, world-class teams and the leading, technology-driven global platform we are building together, which has enabled us to develop innovative solutions and build strategic partnerships with our customers,” said Keywords CEO Bertrand Bodson.

“We continue to deliver strong financial results, creating significant value for our shareholders.

“This offer from EQT opens an exciting new chapter in our growth story. We have a like-minded partner with deep industry knowledge and a desire to accelerate our growth, both organically and through M&A, to capitalize on the many opportunities that lie ahead in the entertainment industry,” added Bodson.

“I am confident that together we will be able to strengthen our leadership position at the heart of the world’s largest entertainment industries and build a truly unique global integrated gaming services platform for the benefit of our employees and customers.”

Keywords was founded in 1998 and currently has over 70 locations in 26 countries including Asia, Australia, the Americas and Europe.

The board believes that “the company is well positioned for continued success in the future” and that “EQT supports the company’s current strategy and management team.”

The transaction is expected to close in the fourth quarter of 2024.