Team17 acquires astragon Entertainment

Team17 has revealed that they have acquired the video game publisher Astragon Entertainment GmbH for €75 million which is roughly the equivalent of $86 million.

It is worth noting that this deal may end up costing Team17 an additional €25 million ($26 million) depending on whether the performance targets of the financial 2021 and 2022 years are hit, which we won’t know until December 2022.

Team17 has become famous for developing video games such as the popular Worms franchise as well as publishing titles such as Overcooked and Overcooked 2, Yooka-Laylee, and numerous others.

Team17 CEO Debbie Bestwick stated that this acquisition will expand Team17’s business elaborating further how the acquisitions of StoryToys, The Label, and more recently Astragon broadens the appeal of their products by branching out to different gaming audiences through multiple different genres.

Debbie Bestwick continued by stating that Team17 is delighted to welcome Astragon into the team and that she believes that they are joining forces with the leading experts of the simulation games genre.

Astragon has been mostly focusing on producing simulation games such as Police Simulator, Euro Truck Simulator, and of course, Farming Simulator, and this acquisition is a good way for Team17 to establish a foothold in this particular market which has risen in popularity in recent years.

Astragon CEOs Julia Pfiffer and Tim Schmitz have stated that their main goal is to become the number one brand within the field of working simulation games and that this collaboration with Team17 will help Astragon evolve and focus on achieving this goal.

The pair further stated that they are looking forward to all the new possibilities that have opened up as a result of this collaboration which will provide them with the opportunity to deliver their ambitions.