Wakefield video game developer Team17 announces IPO plans

Team17, the video game developer, has announced its intention to float on the AIM market of the London Stock Exchange late this month.

Headquartered in Wakefield, Team17 is a video games label and creative partner for independent developers.

The company’s portfolio comprises over 90 games, including the Worms franchise, as well as Overcooked and The Escapists.

Team17 has reported revenues of £29.6m for the year ending 31st December 2017, and adjusted EBITDA of £12.9m during the same period.

Debbie Bestwick MBE, CEO of Team17, commented: “We have created an immensely powerful base from which to continue to grow our business,supported by a hugely talented team and an ever expanding stable of world class content and partners.

“We firmly believe that an IPO will not only broaden the profile of the business globally but will enable Team17 to continue to capitalise on our position as a leading independent video games label for indie developers, as well as continuing to successfully develop our own IP in house.”

The floatation is reportedly expected to value the company at between £200m and £230m.

GCA Altium is acting as nominated adviser.

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