It may not have the financial volume of the Zynga takeover by Take-Two Interactive (we reported), but the following message is a lot more relevant, especially for the German video game sector: As reported by astragon Entertainment, the developer and publisher of taken over by the British Team17 Group. The initial purchase price for this is EUR 75 million, with a further EUR 25 million due if certain sales targets are achieved by the end of the 2022 financial year. The purchase is expected to be completed within the next few days.
Team17, which started 30 years ago as an indie developer and has been immortalized in game history not least with the Worms series, has been on an expansion course for some time and has not only produced its own developments in recent years, but also numerous titles from other studios and published. King of Seas, Greak: Memories of Azur, Hell Let Loose, Narita Boy, Neon Abyss, Golf With Your Friends, My Time at Portia, Blasphemous and Planet Alpha were released under the Team17 banner – just to name a few.
After Team17 had already established itself in the edutainment sector with the acquisition of TouchPress, for example, the acquisition of astragon is another opportunity to strengthen the range of genres and target groups offered.
Julia Pfiffer and Tim Schmitz, CEOs of astragon Entertainment GmbH, commented: “Team17 is the perfect home for astragon Entertainment GmbH. We felt from day one that Team17 has the same vision for our games and understands our target group. Our goal is to become the number 1 brand in the field of work simulations Working with Team17 will enable and help astragon continue to evolve and focus on this strategy. We look forward to the opportunities presented by working with what we believe is a great partner to achieve our goals.”
Debbie Bestwick MBE, CEO of Team17, adds: “We are delighted to welcome the astragon team to Team17 and are confident that we are joining the ranks of one of the leading experts in the field of simulation games. Astragon has decades of experience in game development and publishing, an outstanding and very built a committed community and developed an excellent portfolio of own brands in this genre.
At Team17 we have always strived to create, develop and publish great content for the widest possible audience. With the addition of StoryToys and the expansion of our game brands, which includes recently acquired in the US ‘The Label’ and now astragon, we have expanded Team17’s appeal to the broadest gamer base ever, spanning multiple genres and age groups extends.”