Hell Let Loose and indie publisher The Label
UK publisher Team17 has spent over $100 million to acquire U.S. based indie publisher The Label and the rights to strategic multiplayer shooter Hell Let Loose.
The Label previously worked with Apple and Google to help both companies launch their respective game subscription services, and has been purchased by Team17 in a deal worth up to $40 million.
That fee includes an initial payment of $24 million with an additional earn out consideration worth a maximum of $16 million to be paid over the next three years.
Team17, known for developing the Worms franchise and publishing titles like Overcooked and The Escapists, said the deal will help it establish a "dynamic and fast-growing subscription arm" while enhancing its relationships with both Google Play and Apple Arcade.
The company believes demand in the subscription space will continue to accelerate in the coming years, and intends to use The Label's expertise to better leverage its own franchises and capitalize on that "growing opportunity."
In something of a double swoop, Team17 has also purchased the assets and rights to Hell Let Loose from developer Black Matter for a maximum of £46 million ($62.2 million), comprising an initial fee of £31 million and an earn out consideration that could rise to £15 million.
Team17 had already worked on the project as co-developer and publisher, but will now bring the tactical first-person shooter into its first-party portfolio. Hell Let Loose, which currently has over six million players, will become the first member of a new "core gaming label" that's being established by Team17.
Looking ahead, Team17 wants to extend the lifecycle of the existing game by producing additional DLC and plans to explore potential sequels and other
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