Global video game developer Team17 announces two acquisitions

The Wakefield-based company, best known for the Worms video game franchise, is buying The Label, a US publisher specializing in mobile subscription games for £ 18million, with additional consideration of up to £ 12million over the course of the next three years.

He is also buying WWII military simulation game Hell Let Loose for an initial consideration of £ 31million, plus contingent consideration of up to £ 15million.

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Michael Pattison, CEO of Team17 Games Label, said: “We are delighted to announce the acquisition of IP Hell Let Loose.

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Team17 is best known for the Worms video game franchise.

“Hell Let Loose has quickly grown into a highly credible and innovative multiplayer tactical first-person shooter supported by a very passionate and engaged community with over six million players.

“Having already established a close and extremely productive relationship with Black Matter, we believe that by integrating Hell Let Loose into the Team17 team, we can meet the needs of an ever-growing community, and improve and develop the player experience. existing, and develop new ways to entertain and delight.

“We strongly believe that Hell Let Loose can become the definitive large-scale team-based military simulation.

“This acquisition represents an important next step in our strategy to expand our intellectual property ownership which is not only of the highest quality, but above all has the potential for long-term growth.”

Team17 also said it exceeded expectations in the second half of 2021, delivering a strong performance.

Debbie Bestwick, CEO of Team17, said: “We are pleased with the performance of 2021, during which we continued to execute our very ambitious pipeline while finalizing the acquisition of StoryToys.

“Introducing StoryToys to the Team17 family allows us to align our growth ambitions with their extremely talented team and is a clear marker of our future growth strategy.

“In addition, we are delighted with the acquisitions announced this morning. These further support our content and staff growth plans. We look forward to working with them as part of our growing Team17 group in 2022. ”

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