EQT Group's Proposed Acquisition of Keywords Studio Sees Deadline Extension

The planned acquisition of Keywords Studios has hit a pause as the firm's potential buyer has been given more time to make a formal announcement. As previously reported, a private equity company under the EQT Group umbrella is weighing a cash bid of £25.50 per share to purchase the game development services provider. In a regulatory filing, Keywords Studios confirmed that it has been engaged in advanced talks with its prospective buyer. Initially, EQT was required to either make a formal offer or announce its decision not to proceed by 5 pm on June 15. However, Keywords Studios requested and was granted an extension to this deadline by the Panel on Takeovers and Mergers. The private equity firm now has until 5 pm on June 28 to declare its intentions regarding the acquisition. This deadline can be further extended if Keywords Studios requests it and the Takeover Panel agrees. From its humble beginnings as a localization provider, the 26-year-old Keywords Studios has significantly expanded its service portfolio through over 60 acquisitions since January 2014, now offering a wide range of services including art, audio, game development, PR, marketing, and more.