Team17 Scores a Big Win by Buying Yippee Entertainment for £1.4 Million
Team17, the Yorkshire‑based studio that’s famous for the Worms series, has just announced a splashy takeover of its rival Yippee Entertainment. The deal, valued at £1.4 million, is expected to boost studio capacity and bring fresh talent into the mix.
What the Deal Looks Like
- Cash component: £922,407 in straight cash
- Share component: £433,200 worth of Team17 shares
- Lock‑in period: 3 years, ending in 2023
CEO’s Take
Debbie Bestwick, Team17’s chief executive, said, “MediaCityUK is an amazing spot for our second UK studio, and acquiring Yippee lets us speed up recruitment in the North West.”
The Numbers Are No Joke
In a striking turnaround, Team17’s pre‑tax profits for the six months to June leapt from a modest £31,000 last year to a staggering £10.4 million this year. Revenue nearly doubled as well, posting £30.4 million from a solid mix of new launches and a thriving back catalogue.
This surge in profitability highlights how the acquisition and expansion strategy is working out brilliantly for Team17.
