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London
March 19, 2025
PI Global Investments
Private Equity

EQT to acquire Keywords in £2.2bn deal


Swedish private equity firm EQT is to acquire Keywords Studios, an Irish company focused on developing software used in video games, in a deal that values the business at £2.2bn, according to a report by MarketWatch.

Under the terms of the transaction, EQT will pay 2,450 pence per share, representing a 66.7% premium over the software developer’s share price on 17 May, when formal negotiations began.

Keywords Studios, listed on London’s Alternative Investment Market under the ticker KWS, saw its shares rise 3% on Tuesday, following a 49% year-to-date increase amid protracted negotiations with EQT.



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