EQT Group proposed to buy Keywords Studios. Following this, the company's shares rose by 62%
The Swedish investment firm EQT Group plans to purchase the gaming outsourcer Keywords Studios. Recently, it sent a preliminary purchase offer to Keywords Studios, valuing the company at £2 billion, or approximately $2.5 billion.
EQT Group offered to pay £25.50 ($32.4) per Keywords Studios share. As reported by Bloomberg, this represents a 73.5% premium over the company's share price at the close of the market on Friday, May 17.
As a result, Monday morning began with a sharp rise in Keywords Studios' shares. At the time of writing, the share price had jumped 62.7% to £23.9 ($30.3) per share.
The board of directors at Keywords Studios stated they are willing to finalize a deal with EQT Group if the latter presents a definitive offer by June 15, 2024. Keywords Studios' executives noted they had rejected four earlier offers from EQT Group, which were significantly less favorable.
Founded in 1998, Keywords Studios specializes in gaming outsourcing and technology for games. It consists of dozens of studios, including Sperasoft, Hardsuit Labs, Mighty Games, Forgotten Empires, Heavy Iron Studios, and Climax Studios.
