Famous publisher Team17 announced this morning an acquisition over $100 million worth. First acquisition coming from the company has acquired all rights and assets for Hell Let Loose, a multiplayer World War 2 game developed by Black Matter from Australia. The game has reached over six million players.
The initial purchase was announced as £31 million ($41.9 million), and the potential earnouts of this purchase over the next two years is estimated as up to £15 million ($20.2 million).
This move makes Hell Let Loose IP a first-party franchise for Team17 after they initially published the game back in 2019, and allows the publisher to explore further options about the game. Black Matter founder and CEO Max Rea confirmed the studio will continue to work with Team17 on Hell Let Loose.
In the second acquisition announced, Team17 has acquired The Label for an initial amount of $24 million. The potential earnouts over the next three years are estimated as up to $16 million, making this a $40 million deal in total.
In total, this sums up around $100M worth of acquisitions.
The Label was founded in 2014, and is perhaps best known for bringing What The Golf? to market. The game is actually a really interesting one and also quite funny with its crazy concept.
