Private equity firm EQT will buy Dublin-based video game services group Keywords Studios in a £2.2 billion deal, the companies said today.
The deal, which Keywords said it would recommend to its shareholders, is at a 66.7% premium to the firm's last close on May 17, before the commencement of the offer period. "The board believes that this offer represents a good opportunity for Keywords Studios shareholders to realise value for their investment in cash upfront at a significant premium to the undisturbed share price," Keywords' chair Don Robert said in a statement.
The £24.50 per share offer, which was disclosed last Friday, was higher than a proposal made last week but lower than the £25.50 offer disclosed in May.It provides technical and creative services to the video games industry, including producing games or parts of games for other developers, translating games into different languages, and providing sound effects.
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Keywords Studios set to recommend takeover by EQTVideo game services group Keywords Studios said today it was willing to agree to a £1.96 billion takeover by EQT if the private equity firm made a formal offer at that price.
Source: RTEbusiness - 🏆 16. / 61 Read more »