Listed videogame developer Team17 has reported strong revenue and EBITDA growth.听
The historic firm, which has bases in Wakefield and Nottingham, said group performance for the year ended 31st听December 2020 will be ahead of the听board鈥檚 expectations听despite听“extraordinary and challenging鈥� conditions.听
Led by CEO Debbie Bestwick,听year–on–year revenue and adjusted EBITDA growth听was听around听34% and 36% respectively听at the studio and publisher.听
It has also agreed to purchase the IP and assets of one of the third-party titles it publishes,听Golf听With听Your Friends, for 拢12 million.听
Created by Australian developer Blacklight Interactive, it is a multiplayer crazy golf game featuring incredibly challenging, innovative courses. Team17 oversaw a full launch across platforms including听PC, Nintendo Switch, PlayStation 4 and Xbox.听It has helped double the听owners听of the game听to 5.5 million.听
Meanwhile Sheffield-headquartered Sumo Group said revenue and adjusted EBITDA for the same period are expected to be ahead of market expectations.听
It says听EBITDA听will be听at least 拢16.0m听following its latest听acquisition,听Pipeworks, and higher–than–expected royalty income.听
Acquisitive听Sumo now employs听more than听1,000听people across several studios.听
Team17听launched听12 titles in 2020, including听additions to the Worms, Escapists and Overcooked franchises, while it expects to deliver a 鈥�solid and very diverse pipeline鈥�听of both existing IP on new platforms and new IP听in 2021.听
This includes听Worms Rumble and Overcooked: All You Can Eat on more platforms;听Rogue Heroes, The Unliving, Epic Chef, Super听Magbot, Greak: Memories of Azur, Honey I Joined a Cult, Hokko Life听plus听a number of听unannounced games.听
鈥�2020 is definitely a year we will not forget in a hurry and also provides insights into the challenges we can expect as a workforce in 2021,鈥� said Bestwick.听听
鈥�Many of our games are local co-op and online play and we added cross play to some of our titles alongside numerous听quality听of life and gaming enhancement updates across our back catalogue.听听
鈥�We are also delighted to start 2021 with the announcement that we have acquired GWYF and see great potential in this IP.听听
鈥�Over the last two years, GWYF has shown strong consumer demand and mass market appeal, doubling its owner base and achieving success on multiple gaming platforms.听听
鈥�GWYF is the type of IP we believe is right for ownership, it is successful and proven but still at the start of its journey.”听
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