Team17 is looking to make M&A moves
Indie publisher Team17 has said that mergers and acquisitions are a core part of its accelerating growth.
That's according to the company's half-year financial results – for the first six months of 2024 – where the firm said that it was looking to "leverage attractive opportunities as they arise." Team17 also is looking to double down on the indie space because it has a lower risk return on investment compared to mid-tier and triple-A games.
"Looking ahead, there is significant growth potential in our core markets - Indie, edutainment and working simulation games," CEO Steve Bell (pictured) said.
"Our focus on creating a portfolio of games and apps with evergreen longevity, and leveraging our excellent lifecycle management capabilities, ideally positions us to capitalise on this and build a lifetime of play within our growing portfolio and player base."
Team17 added in its report that: "The M&A market in gaming is highly active and the Group's strong cash position provides a clear opportunity to acquire quality assets, including established IP to support the back catalogue, as opportunities arise. The Group is in the process of strengthening its internal structure and is making targeted senior hires (such as a Group Legal Director), which put it in a stronger position to fully scale and leverage attractive opportunities as they arise."
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