Listed video games studio Team17 has swooped for Salford games firm Yippee Entertainment in a 拢1.4 million deal.
Team17, which has bases in聽Wakefield and Nottingham, has moved to acquire the award-winning software developer and digital publisher based in MediaCityUK.
Yippee focuses on end-to-end production and creation of third-party games alongside its own IP, which includes the millions-selling Chimpact series of games.
Yippee will work on a combination of Team17-owned, original and partners鈥� IP.
Team17 said the acquisition supports its growth strategy by increasing studio capacity and providing access to a new talent pool in the North West.
The studio鈥檚 talented and versatile team will continue to be run by Yippee鈥檚 CEO, Mike Delves, an industry veteran with over 30 years鈥� experience in senior positions at Hasbro, Acclaim and Ocean Software prior to forming Yippee in 2011.
The acquisition will be satisfied through a combination of 拢922,407 in cash and the issue of 114,000 consideration shares worth 拢433,200 and subject to a lock-in over a three year period from the date of the acquisition.
Team17 CEO Debbie Bestwick said: “On behalf of the group, I鈥檇 like to extend a warm welcome to Mike and his team.
鈥淢ediaCityUK 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.鈥�