The Stockholm-based investment company said current negotiations centre around a possible cash offer of £25.50 per share. Based on Reuters information, KWS closed Friday, 17 May 2024, trading at £14.70, a 5% increase from its previous session. The EQT offer tops this value with 73%.

According to reports, EQT previously made four unsolicited offers for the gaming company; however, the Keywords board turned down all those proposals. EQT indicated its new £2.2bn offer is significantly higher than the other bids.

Keywords reportedly took this new offer up with its financial advisors and decided it would be prudent to inform its investors of the tender. British acquisition rules determine that EQT has until 15 June 2024 to solidify an offer or cease all efforts for a takeover.

Don’t miss out the latest news, subscribe to LeapRate’s newsletter

Since entering the public trading arena in 2013, Keywords grew its revenues from €16m to €780m in 2023. This growth was both organic and through mergers and acquisitions.

Founded in 1998, this company provides creative and technical solutions for video games and the broader entertainment industry. Reuters reported Keywords has more than 70 locations worldwide and operates in 26 countries.

Among others, Keywords researches and improves gaming systems. Recently, the organisation announced improvements in the game Control’s navigation system to move towards “minimal hand-holding” by using actual player data.

The post EQT In Talks To Buy Keywords Studios For £2.2bn appeared first on LeapRate.