EQT submits final $2.7bn bid for Keywords Studios

Date Type Companies involved Size
July 3rd, 2024 acquisition Keywords Studios $2,700m
EQT submits final $2.7bn bid for Keywords Studios

Finance firm EQT has submitted its final offer to acquire Keywords Studios. 

 , the company said that it was willing to pay £2.1 billion ($2.7 billion) for the services and software giant. That's slightly lower than the previous £2.2 billion bid that it submitted back in May

As before, the Keywords directors have recommended that shareholders approve this deal. 

"I am extremely proud of our passionate world-class teams and the leading technology-enabled global platform we are building together, which have enabled us to develop innovative solutions and foster strategic partnerships with our clients. We have consistently delivered strong financial performance, creating significant value for our shareholders," Keywords CEO Bertrand Bodson (pictured) said. 

"This offer from EQT marks an exciting new chapter on our growth journey, with a like-minded partner who possesses deep sector expertise and a desire to accelerate the pace of our growth, both organically and through M&A, to unlock the many opportunities ahead of us across the entertainment landscape. I am convinced that together we will be able to strengthen our leadership position at the heart of the largest entertainment industries in the world and build a truly unique global integrated games services platform for the benefit of our people and clients."

EQT Asia chair Jean Salata added: "Keywords Studios is an exciting business in a growing and fragmented video gaming technology services market. As the industry evolves, continued investment by Keywords Studios in innovation, higher value added services and international expansion will be key to sustaining a strong position and driving further long-term growth. As a private company under EQT's ownership, Keywords Studios will be well positioned to make the long term investments required for the transition to next-gen video gaming and for global expansion. We plan to draw on our experience in the services and technology sectors to support management and invest further in innovation, talent, and M&A to accelerate Keywords Studios' current strategy."

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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.