London-listed Team17 (AIM:TM17) told investors on Thursday that it had acquired software developer Yippee Entertainment.
The Wakefield-based video game developer and publisher acquired the group for a total of around £1.4 million in a combination of cash and shares.
The group said the acquisition was important to support their growth strategy by increasing studio capacity as well as providing access to a new talent pool in the North West.
Shares in Team17 were trading 2% higher at 382.5p on Thursday at midday.
“MediaCityUK is a wonderful location for our second UK studio and the acquisition of Yippee allows us to accelerate our recruitment plans in the North West,” stated Chief Executive, Debbie Bestwick.
Yippe’s Chief Executive, Mike Delves, and the rest of the team will continue to support the group following the completion of the acquisition, the morning’s statement detailed.
Founded in 1990, Team17’s portfolio comprises over 100 games and the group have provided its services to a range of global companies such as Microsoft Inc.
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