Team17 buys up Astragon Entertainment for €100 million
Team17 has announced that it's acquiring video game publisher and developer Astragon Entertainment for the price of €100 million (about $114.6 million).
While Team17 has become well-known for developing and publishing games like Overcooked 2 and Hell Let Loose, Astragon's kept a lower profile pumping out "sophisticated simulation software" like Bus Simulator, Police Simulator, Construction Simulator, and more. This purchase will be executed with a cash payment of €75 million, with an additional consideration of €25 million to follow.
The acquisition seems aimed at getting Team17 and its partners into the simulation software business. It's a popular market on PC, with games like Farming Simulator and Euro Truck Simulator also raking in cash.
Team17 CEO Debbie Bestwick explained how the acquisition can additionally boost Team17's business. "With the addition of StoryToys and the expansion of our Games Label, which includes the recently acquired USA based ‘The Label’ and now Astragon, we have significantly expanded Team17’s appeal to the widest ever cross section of gamers, spanning multiple genres and age groups," she wrote in a statement.
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