May 23, 2018
GCA Advises Team17 on Its IPO
GCA is pleased to announce we acted as financial advisor and nominated advisor on the AIM IPO of Team17 Group Plc, a leading video game label for independent developers.
The IPO valued Team17 at £217 million ($289 million) and raised gross proceeds of approximately £107.5 million for the company and the selling shareholders on the first day of trading. The IPO will enable the company to invest in its future expansion, enhance its profile and incentivize key employees.
Team17 supports both owned first-party and third-party intellectual property in the development and publishing of games across multiple platforms by partnering with independent developers globally. The group’s portfolio comprises over 90 games, including the iconic and well-established Worms franchise, as well as Overcooked and The Escapists. Founded in 1990, Team17 has long-established relationships with major video game platform operators including Sony, Nintendo, Microsoft, Steam, Apple and Google.
Team17 shares began trading on AIM on May 23. AIM is the London Stock Exchange’s international market for growing companies. Renowned for its balanced approach, AIM helps quoted companies raise the capital they need for expansion within a regulatory framework that gives them the room they need to grow.