Simpson Thacher is representing EQT’s BPEA Private Equity Fund VIII in connection with its recommended cash acquisition of the entire issued and to be issued share capital of Keywords Studios Plc (“Keywords”) at 2,450 pence per share, which was announced on 3 July 2024. The acquisition values Keywords’ share capital at £2.1 billion on a fully diluted basis, and implies an enterprise value of approximately £2.2 billion. The acquisition is expected to be implemented by way of scheme of arrangement, subject to the approval of Keywords’ shareholders. CPP Investments and Temasek will co-invest alongside EQT.~~Keywords is admitted to trading on AIM and is a global provider of fully integrated creative and technology-enabled solutions to the video games and entertainment industries.~~The Simpson Thacher team includes Ben Spiers, Lucy Gillett, Jewel Zhu, James Evelegh, Laura Harris, Beanka Chiang and Andrew Mon (Corporate – U.K.), and Antonio Bavasso and Josh Buckland (Antitrust).