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Worms publisher Team17 plots $284 million UK IPO

Official announcement could be made "within days"
Worms publisher Team17 plots $284 million UK IPO
Date Type Companies Involved Size
Mar 26, 2018 other Team17 $284m

UK-based Worms publisher Team17 is eyeing up a £200 million ($284m) flotation, according to a report.

The Times claims that the company could make an announcement on the matter “within days”.

Team17 is said to have appointed stockbrokers from Berenberg and GCA Altium to work on the London-based public offering.

News of a flotation comes over two years after the company raised $21.8 million from private equity firm Lloyds Development Capital to expand its business. It used those funds to acquire The Escapists developer Mouldy Toof Studios.

Established publisher

While best known for the Worms franchise that has been around for more than 20 years, Team17 has become one of the UK’s biggest publishing labels.

Titles published in recent years include Yooka-Laylee, The Escapists and Overcooked.

Other upcoming games include Raging Justice and Planet Alpha.