Keywords Studios has entered into a £2.2 billion acquisition deal with the Swedish investment firm EQT

Keywords Studios has announced that it will be acquired by the Swedish investment firm EQT for approximately £2.2 billion, once shareholders give their approval.

This "fully integrated creative and technology-enabled" firm, which provides services to big names like Activision Blizzard, EA, Epic, and Square Enix, shared that the recommended cash offer is valued at £24.50 per share.

“I am greatly proud of our dedicated world-class teams and the advanced global platform we are constructing, which allow us to develop innovative solutions and forge strategic client partnerships,” remarked Bertrand Bodson, CEO of Keywords Studios.

“We have shown consistent strong financial performance, generating significant value for our investors.

“EQT’s proposal represents an exciting new phase in our growth story with a partner that has extensive industry knowledge and aims to drive our expansion, both organically and through mergers and acquisitions, to unlock the numerous opportunities ahead across the entertainment landscape,” Bodson continued.

“I am confident that together we will bolster our leadership in the world’s largest entertainment sectors and establish a distinctive global integrated services platform for the benefit of our employees and clients."

Founded in 1998, Keywords Studios operates over 70 facilities in 26 countries, spanning regions like Asia, Australia, the Americas, and Europe.

The company's board is optimistic about future success, noting that "EQT fully supports the existing strategy and management team."

The acquisition is projected to be finalized in the fourth quarter of 2024.