Keywords board recommends shareholders accept $2.8bn acquisition deal

Keywords board recommends shareholders accept $2.8bn acquisition deal

The board of services and software giant Keywords Studios has said that its shareholders should accept the £2.2 billion ($2.8 billion) that has been put on the table by Sweden's EQT Group.

In a release to investors, the company said that this was the fifth such proposal it has received in recent months. This one, the board says, is of a value that it can properly consider and thus has recommended shareholders vote yes.

The deadline for EQT Group to submit a formal offer is June 15th.

"The Board remains confident in the Company's growth strategy of building the only truly global platform providing solutions to the video games and entertainment industries, both organically and through acquisitions, and EQT is supportive of this strategy," Keywords wrote to investors.

"The Board of Keywords Studios has carefully evaluated the Possible Offer with its financial advisers and concluded the Possible Offer is at a value that the Board would be minded to recommend to Keywords Studios shareholders, should a firm intention to make an offer pursuant to Rule 2.7 of the Code be announced on such financial terms, subject to the agreement of all other terms and conditions of an offer."

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.