Leading indie developer/publisher Team 17 is poised to go public, via an Initial Public Offering (IPO) on the AIM market of the London Stock Exchange.
Confirming the move to MCV, a spokesperson for Team 17 said the likely valuation of the IPO will be between £200 million and £230 million, adding the reasons behind the IPO are: “Supporting the growth of the business, enable Team 17 to retain and attract key staff, provide the ‘currency’ to support potential M&A opportunities and help raise [its] profile both in the UK and globally.”
Team 17’s CEO Debbie Bestwick added: “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.
Team 17 has been on a conspicuous roll in recent years, becoming something of a leading light among the UK’s vibrant indie developer scene. It enjoyed recent success with games like Yooka-Laylee, Overcooked and The Escapists, and forthcoming Team 17 releases include the likes of Yoku’s Island Express, Raging Justice (which was released today), Genesis Alpha One, Forged Battalion, Planet Alpha and Mugsters.
The IPO should begin playing out in the coming weeks – we’ll keep you abreast of any related news.