Keywords acquires development studio Coconut Lizard

Date Type Companies involved Size
June 26th, 2020 acquisition Keywords Studios $2.5m
Keywords acquires development studio Coconut Lizard

Services giant Keywords Studios has bought developer Coconut Lizard.

The firm paid £2 million ($2.5 million) for the UK-based company, which was previously owned by Epic Games. The studio primarily is a support outfit for Unreal Engine and has previously helped out with Microsoft and Rare's Sea of Thieves.

For the year ending March 31st, 2020, Coconut Lizard brought in £1.5 million ($1.9 million).

Welcome aboard

"We are delighted to welcome Robert and the team at Coconut Lizard to the Keywords family," Keywords chief Andrew Day (pictured) said.

"The Coconut Lizard team will bring further expertise in the Unreal Engine as well as access to talent to our wider team of around 1,000 people working across our Game Development studios internationally.

"Having recently successfully raised £100m in a placing, we are pleased to have completed our first acquisition despite the COVID-19 pandemic. We expect to complete further acquisitions over the months ahead from the strong and attractive pipeline of opportunities that we are currently reviewing."

Last month, Keywords revealed it had raised $122 million to acquire companies that are struggling to recover from the coronavirus outbreak.

This story first appeared on

Editor - PC Games Insider

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he was hired to launch for Steel Media before departing the firm in October 2019.

He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.


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