The boards of Irish video-game services company Keywords Studios and the UK-based private equity firm Bidco have reached agreement on the terms of a recommended cash acquisition.
The entire ordinary share capital of Keywords Studios will be acquired by Bidco at a price of £24.50 ($31.11) per share.
The acquisition values the entire issued and to be issued ordinary share capital of Keywords Studios at approximately £2.1 billion on a fully diluted basis, and implies an enterprise value of approximately £2.2 billion.
Bidco or Houting UK Limited is a newly formed company indirectly wholly-owned by the Swedish investment group EQT's BPEA Fund VIII.