(Bloomberg) -- Keywords Studios Plc said it’s likely to accept an updated offer from EQT Group that values the video game services company at about £2 billion ($2.5 billion).

Investors will get £24.50 per share in cash, the company said in a statement on Friday. While the current bid is below a May offer of £25.50 per share, it’s an improvement on EQT’s bid from earlier in the week of £24.30. 

Keywords Studios, established in 1998 and listed on the London Stock Exchange’s AIM market in 2013, provides game development, audio and art services to game industry clients such as Epic Games and Activision Blizzard Inc. The company has expanded rapidly since going public by acquiring numerous support studios, and titles it has worked on include Fortnite, Call of Duty and Baldur’s Gate 3. The company operates across 26 countries.

Keywords struggled with a slow recovery from the Hollywood strikes last year as well as with game development projects that have been delayed until the second half of the year or canceled, it said in the statement. The company said growth will improve in the second half and that it expects to meet its “medium-term guidance.” 

The company, which also buys up other video game service providers and said it’s in talks for deals currently, had rejected several previous bids from EQT, but announced advanced talks in May after the private equity firm made an offer that was a “significant increase from the initial proposal.” 

Keywords shares rose 5.9% to £23.06 in London trading at 11:23 a.m. on Friday. They have increased 39% this year through Thursday.

Foreign buyers have shown growing interest in UK-listed technologies companies. In April, US private equity group Thoma Bravo agreed to buy UK cybersecurity company Darktrace Plc for about $5.32 billion. Earlier in May, KKR & Co. agreed to take utilities software company IQGeo Group Plc private for £316 million. 

(Updates with offer value in headline and first paragraph, shares in sixth paragraph)

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