Founded in 1998 by Giorgio Guastalla and Teresa Luppino, the company initially provided localisation services for business software before transitioning to the video game industry.

Andrew Day replaced Guastalla as the chief executive officer in 2009 and the company completed its initial public offering on the London Stock Exchange in 2013.

Giorgio Guastalla, an Italian-Irish businessman who had previously worked for Microsoft's Dublin office, founded Keywords Studios in 1998 with his wife, Teresa Luppino.

[2][3][4] The company was established in Leopardstown (a suburb of Dublin) under the name Keywords International and originally provided localisation services for business software.

[4] Day instituted a five-year plan that shifted the company's focus entirely towards video games and was to lead to a flotation in 2014.

[7] In June 2013, Keywords International announced its intent to float and sell 56% of its shares on the Alternative Investment Market of the London Stock Exchange.

[11][12] Numis Securities served as the financial adviser and ran the offer,[13] and Keywords Studios floated on 12 July, raising £28 million.

[19] Jon Hauck was brought on as Keywords Studios's chief financial officer (CFO) in November 2019, replacing David Broderick after he had announced his resignation.

[21] Staff criticised the company's handling of the pandemic, stating that the operations had remained largely unchanged despite health safety concerns.

[30] In May 2024, Keywords Studios announced it would accept a takeover offer from the Swedish investment firm EQT AB of £25.50 in cash per share, a total of £2.2 billion.

[37] Italicatessen, a food import business founded by Guastalla and Luppino in 2002, provides catering services for Keywords Studios's headquarters.

[6] The company's businesses are divided into seven segments: art, engineering, functional testing, audio recording, translation, localisation, and player support.