(Bloomberg) -- EQT Group is in advanced talks to buy Keywords Studios Plc for £25.50 per share, in a deal that would value the Dublin-based video game services company at more than £2 billion ($2.5 billion).

The possible bid, which comes after Keywords’ board rejected four unsolicited proposals from the private equity firm, represents a “significant increase from the initial proposal,” the company said in a statement.

It also implies a premium of 73.5% to Keywords’ closing price of £14.70 per share on May 17, according to Bloomberg’s calculations. 

Keywords Studios’ board is minded to recommend the proposal to its shareholders. EQT has until June 15 to either make a firm offer or walk away.

The discussions underscore the growing interest of foreign buyers in London-listed technology firms, just as the government strives to foster the domestic tech scene.

Late in April, US private equity firm Thoma Bravo agreed to buy UK cybersecurity group Darktrace Plc in a $5.32 billion deal fulfilled almost two years after the initial approach.



©2024 Bloomberg L.P.