The Dublin-based company, which is a London-listed firm, received the offer worth €29 a share and marks a 66.7% premium to Keywords’ closing share price on May 17.
While the Keywords Studios name may not be familiar to everyone, their work will be known to gamers all over the work, and it has operations in 26 countries across Europe, Asia and Australia.
Some of the blockbuster games the studio has worked on since its creation in 1998 include "Fortnite" and "Assassin's Creed".
Speaking on the news, the Keywords Studios chairman Don Robert said: "Whilst the board expects the continued execution of Keywords Studios’ strategic objectives and its leadership position to create significant value, the board is also mindful of the near-term challenges in the broader video games and entertainment industries, as well as other longer-term uncertainties, which have caused volatile returns for Keywords Studios’ shareholders over the past 15 months.
"On balance, the board believes that this offer represents a good opportunity for Keywords Studios shareholders to realize value for their investment in cash upfront at a significant premium.'
The move is seen as a blow for the London Stock Exchange after a number of firms going private or moving their listings overseas.
This is also the fifth attempt EQT has made to take over Keywords after the previous five were rejected.
*This article was originally published on Geek Ireland.
Comments