Global video games developer Team17 announces two acquisitions

The Wakefield-based agency, finest identified for the Worms online game franchise, is shopping for The Label, an American writer specialising in cellular subscription video games for £18m, with a further earn out consideration of as much as £12m over the subsequent three years.

It’s also shopping for WW2 army simulation recreation Hell Let Free for an preliminary consideration of £31m, plus a contingent earn out consideration of as much as £15m.

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Michael Pattison, CEO at Team17 Video games Label, stated: “We’re delighted to be asserting the acquisition of the Hell Let Free IP.

Team17 is finest identified for the Worms online game franchise

“Hell Let Free has rapidly change into a extremely credible and modern multiplayer tactical first-person shooter supported by a really passionate and extremely engaged group with over six million gamers.

“Having constructed a detailed and very productive relationship with Black Matter already, we imagine that by bringing Hell Let Free into the Team17 secure, we are able to serve and construct upon the wants of an ever-growing group, enhance and develop upon the prevailing participant expertise and develop new methods to entertain and delight.

“We firmly imagine Hell Let Free can change into the definitive large-scale team-based army simulation.

“This acquisition represents an necessary subsequent step in our technique to develop our possession of IP that’s not solely of the best high quality, however importantly has long-term development potential.”

Team17 additionally stated that it traded above expectations within the second half of 2021, finishing a strong efficiency.

Debbie Bestwick, CEO of Team17, stated: “We’re happy with the 2021 efficiency, wherein we continued to execute on our extremely bold pipeline alongside finishing the acquisition of StoryToys.

“Bringing StoryToys into the Team17 household sees us align our development ambitions with their vastly gifted group and is a transparent marker for our future development technique.

“As well as, we’re delighted with the acquisitions introduced this morning. These additional help our content material and other people development plans. We sit up for working with them as a part of our rising Team17 Group in 2022.”

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