Wakefield-based video game developer Team17 Group — which went public in 2018 — said on Thursday it bought Salford-based Yippee Entertainment Limited for about £1.4 million.
Yippee is a software developer and digital publisher based in MediaCityUK.
“Yippee will work on a combination of Team17-owned, original, and Games Label partners’ IP,” said Team17.
“The acquisition supports Team17’s growth strategy by increasing studio capacity and providing access to a new talent pool in the North West.
“The studio’s talented and versatile team will continue to be run by Yippee’s chief executive officer, Mike Delves, an industry veteran with over 30 years’ 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 £922,407 in cash and the issue of 114,000 consideration shares worth £433,200 and subject to a lock-in over a three year period from the date of the acquisition.”
The business will operate under Team17 as a wholly owned subsidiary.
Team17 Group CEO Debbie Bestwick said: “On behalf of the group, I’d like to extend a warm welcome to Mike and his team.
“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.”