Keywords snaps up development studio Coconut Lizard

Date Type Companies involved Size
June 26th, 2020 acquisition Keywords Studios $2.5m
Keywords snaps up development studio Coconut Lizard

Services giants Keywords Studios has bought developer Coconut Lizard.

The firm paid £2m ($2.5) for the UK-based company, which is primarily a support outfit for Unreal Engine projects. In the past, it has helped out with Microsoft and Rare's Sea of Thieves.

For the year ending March 31st, 2020, Coconut Lizard brought in £1.5m ($1.9m).

"We are delighted to welcome Robert and the team at Coconut Lizard to the Keywords family," Keywords chief Andrew Day (pictured) said.

"The Coconut Lizard team will bring further expertise in the Unreal Engine as well as access to talent to our wider team of around 1,000 people working across our Game Development studios internationally.

"Having recently successfully raised £100m in a placing, we are pleased to have completed our first acquisition despite the COVID-19 pandemic. "We expect to complete further acquisitions over the months ahead from the strong and attractive pipeline of opportunities that we are currently reviewing."

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