Team 17 acquires UK studio Yippee Entertainment for $1.85 million

Worms developer-publisher Team 17 has acquired UK studio Yippee Entertainment for £1.4 million ($1.85 million). 

Founded back in 2011, Yippee is a Manchester-based software developer and digital publisher that works on third party projects as a for-hire studio while also creating its own original properties. 

The deal will see Team 17 pay £922,407 ($1.22 million) in cash alongside a 114,000 share consideration worth £433,200 ($571,300), and supports the company’s growth strategy by "increasing studio capacity sand providing access to a new talent pool in the North West."

Moving forward, Yippee will operate under the Team 17 banner as a wholly owned subsidiary, and will work on a combination of Team-17 owned, original, and Games Label partners properties. Current chief exec Mike Delves will continue to lead the studio.