Video game developer reveals float plans

Team 17 revenue doubled from £13.5m in 2016 to £29.6m in 2017

Team 17 revenue doubled from £13.5m in 2016 to £29.6m in 2017

Team 17, whose development studio is based in Wakefield, is behind a portfolio of games including the Worms franchise, The Escapists, Overcooked and Yooka-Laylee.

The developer reported revenue of £29.6m in 2017, up from £13.5m the year before, with adjusted EBITDA increasing to £12.9m from £6.1m.

The British company behind the classic video game series Worms has plans for a float which could value the company at £230m.

Kenya to launch first locally made satellite into space
Experts project that it cost about 100 million shillings to assembly the satellite, whose lifespan is about one and a half years. The device was handed over to the JAXA Tsukuba Space Center four months ago to prepare for its deployment.

Bestwick's stake will be worth approximately £100m when the company floats on Aim later this month and she intends to sell up to 50% of her shareholding.

"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", Bestwick said.

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