Keywords Studios acquires Age of Empires studio Forgotten Empires

Keywords Studio acquires game developer Forgotten Empires for up to $32.5 million. Forgotten Empires developed the Definitive Editions from the Age of Empires franchise, among other things.

Keywords Studios will pay a maximum of $32.5 million for the acquisition. reports Gamesindustry.biz† Converted, it concerns a deal of 30.85 million euros, of which part in cash and part in shares. Part of this is paid on the basis of growth targets.

Studio head Ryan Shepherd, who founded Forgotten Empires in 2013, continues to lead the game developer team. Shepherd says the following about the acquisition: “We are very excited that [Keywords Studios] shares our ambition and will provide the support to enable and sustain our continued growth”.

Forgotten Empires mainly develops real-time strategy games and is best known for the Age of Empires franchise. The studio worked on Age of Empires Definitive Editions, Age of Mythology: Extended Edition and Age of Empires IV, among others. Other AoE games were developed by Ensemble Studios, among others, which closed its doors in 2009.

Update, 6:50 PM: added that some AoE titles were developed by other studios for clarification.

Age of Empires IV