M&A Deal Summary

EQT Acquires Keywords Studios

On July 3, 2024, private equity firm EQT acquired digital media company Keywords Studios for 2.1B GBP

Acquisition Highlights
  • This is EQT’s 3rd transaction in the Digital Media sector.
  • This is EQT’s 7th largest (disclosed) transaction.
  • This is EQT’s 2nd transaction in Ireland.

M&A Deal Summary
Date 2024-07-03
Target Keywords Studios
Sector Digital Media
Buyer(s) EQT
Deal Type Going Private
Deal Value 2.1B GBP
Advisor(s) Robey Warshaw LLP
Deutsche Numis (Financial)
DLA Piper
Simpson Thacher & Bartlett (Legal)

Target

Keywords Studios

Dublin, Ireland
Keywords Studios is an international technical services provider to the global video games industry. The company provides integrated art creation, localization, testing, audio, and customer care services across 50 languages and 14 game platforms to a blue-chip client base in more than 15 countries. It has a strong market position, providing services to 20 of the top 25 most prominent game companies, including Microsoft, Supercell, King, Bandai Namco, Sony, Konami, Electronic Arts, 2K, and Square Enix. Recent titles worked on include Tom Clancy's The Division, Halo 5: Guardians, Batman: Arkham Knight, Street Fighter V, Rise of the Tomb Raider, Clash Royale, and Mobile Strike. Keywords Studios was founded in 1998 and is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 50.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 293 of 297
Sector (Digital Media) 3 of 3
Type (Going Private) 19 of 20
Country (Ireland) 2 of 3
Year (2024) 10 of 14
Size (of disclosed) 7 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-28 idealista

Madrid, Spain

idealista is an online real estate marketplace that supports approximately 40,000 real estate agents and 38 million unique monthly visitors across Southern Europe, by providing an online real estate classifieds marketplace for home buyers and sellers. idealista was formed in 2000 and is based in Madrid, Spain.

Sell €2.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-07 Acronis

Schaffhausen, Switzerland

Acronis is a provider of virtualization, the explosion of data creation and the opportunities Cloud services offer are bringing new challenges to maintaining effective backup and disaster recovery programs for critical data. Acronis was founded in 2003 and is based in Schaffhausen, Switzerland.

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Legal