23.2 C
New York
September 26, 2022
NewsAltitude
Entertainment TOP STORIES

Team17 acquires Astragon for €75m

Team17 acquires Astragon for €75m

Publisher aims to expand its offerings of non-violent and cooperative entertainment games with the acquisition

Today publisher Team17 has announced that it has acquired developer Astragon Entertainment GmbH for €75 million ($86 million).

An additional consideration of up to €25 million ($26.8 million) in cash may be payable, depending on performance targets for the financial years ending in December 2021 and 2022.

Astragon will operate as an independent division within Team17 while also collaborating with other developers.

With the acquisition Team17 intends to expand its title offerings to provide consumers non-violent and cooperative entertainment games.

“Our goal is to become the number one brand in the field of ‘working’ simulation games,” said Astragon CEOs Julia Pfiffer and Tim Schmitz.

“Collaborating with Team17 will enable and help astragon to evolve and focus on this strategy. We look forward to the possibilities that are opened up by working with what we believe to be a great partner to deliver our ambitions.”

The acquisition of Astragon isn’t the only purchase that Team17 has made during the year, last week it purchased the title Hell Let Loose and US indie game publisher The Label.

Read More