Game developer firm Keywords Studios, which is based in Dublin, is set to be bought by the Swedish Equity firm named EQT. This takeover deal is worth £2.1 billion /€2.4 billion, and the tech company has backed the bid with a £24.50/€29 per share as the London-listed firm.
The bid price of Keywords Studios’ £2.1 billion /€2.4 billion represents 66.7% of the total premium (including all debts) to its closing share price on 17 May. In the initial stages of this deal, the bid price was much lower, but now it has topped the price of £25.50 (€30) per share in May.
Don Robert, Keywords Studio’s Chairman, has stated that whilst all the board members expect the continuation of the company’s strategic objectives, they are also mindful of all the near-term challenges and long-term uncertainties. The company has caused volatile returns in the past 15 months for all the shareholders.
Robert also mentioned that this takeover would be a great opportunity for the shareholders to realize the value of their investment in cash upfront. Furthermore, this takeover deal is yet another blow to the London Stock Exchange, as it has become another raft of firms that have been taken private.
More Details On The Organizations Involved In This Takeover Deal
EQT previously made four proposals for an unsolicited takeover of Keywords Studios. However, the tech company rejected those proposals. For context, Keywords Studios is a major tech company associated with Google, Nintendo, Microsoft, and EA. Not only that, but many blockbuster games such as Fortnite and Assassin’s Creed also use Keywords Studios’ services.
This company was founded in 1999 when the founder, Giorgio Guastalla, moved to Dublin to work with his partner, Terresa Luppino. At the time, the business was a language translation and localization software business. This firm now operates in 26 countries, including continents like Europe, Australia, and Asia.
EQT has a track record of investing in technology firms, where they have spent over $37 Billion on 116 tech investments worldwide.
- Keep following The Gaming Newz for all the latest gaming news from the world of games & more
- Instagram: https://www.instagram.com/thegamingnewz_official
- Facebook: https://www.facebook.com/thegamingnewzfb
- X: https://twitter.com/thegaming_newz
- LinkedIn: https://www.linkedin.com/company/the-gaming-newz
0 comment
cqXveWPIDmBwJNSz