Publisher of Overcooked franchise Team 17 gears up for IPO following surge in revenue

 
Alexandra Rogers
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Team 17 revenue doubled from £13.5m in 2016 to £29.6m in 2017

Global games label Team17 is gearing up for an initial public offering (IPO) on the alternative investment market (AIM) of the London Stock Exchange later this month, after it doubled its revenue from last year.

Team17, the developer of independent, premium video games, supports both first party intellectual property (IP) and third party IP in the development and publishing of games across multiple platforms, typically for a fixed revenue share.

Franchises in its 90-strong portfolio include the Worms franchise, Overcooked and the Escapists.

It says it has been able to call for an IPO owing to its delivery of a compound annual growth rate (CAGR) of 69 per cent and and revenue more than doubling from £13.5m in 2016 to £29.6m in 2017.

Next year is holding up to be a promising year for the company, with a number of new game launches such as Yoku’s Island Express, Genesis Alpha One, Raging Justice, My Time at Portia, Planet Alpha, Forged Battalion and Mugster’s lodged in the pipeline.

Its core area of premium personal computer and console market were valued at a combined $49bn (£36m) in 2017 and is projected to grow to $59bn in 2021, while the global gaming market was valued at $104bn (£77m) in 2017.

It is projected to grow at 7.3 per cent CAGR from 2017 to 2021 on the back of strong digital sales.

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