Team17 simulation deal

Video games label and developer Team17 (LON: TM17) is acquiring astragon Entertainment for €100m (£83m). An £80m placing will provide finance for the deal. This is the third and largest acquisition in 2022 and takes Team17 into the simulation games market. The Team17 share price has more than quadrupled in less than three years.

The initial payment is €75m(£63m) in cash with the rest dependent on the achievement of EBITDA targets for 2021 and 2022.

Germany-based astragon is a simulation games developer and publisher. Titles include Construction Simulator and Bus Simulator. More than 20 ...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.