Team17 Buys Hell Let Loose and The Label
Team17 announces the acquisition of the Hell Let Loose IP as well as independent publisher The Label. Word is the two deals are worth between USD$66 million and $100 million:
Team17 Group PLC said Thursday that it has bought Hell Let Loose for up to 46 million pounds ($62.4 million) and The Label for up to $40 million.
The U.K. videogame developer said the deal for Hell Let Loose, an existing Team17 Games Label third-party title, is for an initial consideration of GBP31 million and an earn out consideration of up to GBP15 million. The initial consideration will be satisfied through GBP19.75 million in cash and the issue of 1.5 million shares.
The acquisition of U.S.-based independent games publisher The Label is for an initial consideration of $24.0 million, with additional earnout of up to $16.0 million over the next three years. The initial consideration will be satisfied through a combination of $18.0 million in cash and the issue of 604,543 shares.