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