Released last July on PS5 and Xbox Series after long early access on PC, the military FPS Hell Let Loose has established itself as one of the biggest recent successes of Team17, to the point that the publisher has decided to buy the license from the Black Matter studio, which allows it to consider the creation of extensions or suites. A strategy already proven by Team17 who had previously purchased the licenses The Escapists and Golf With Your Friends to its respective creators.
For 37 million euros, the Australian studio Black Matter said yes, especially since the amount can still increase by 18 million euros if certain objectives are reached. For now, Black Matter continues to work with Team17 on this title which has attracted 6 million players, probably including PlayStation Plus subscribers. The editor also informs us that Hell Let Loose will be the first game to integrate the new label core gaming that it will put in place to underline the growing importance of this segment in its catalog. The name of this label is not yet known.
Team17 also announced the acquisition of The Label, a publisher specializing in mobile, for the sum of 21 million euros, to which could be added up to 14 million additional euros if certain objectives are reached. Founded in 2014 in San Francisco, The Label has released games like The Legend of Bum-bo (Edmund McMillen) but also What the Golf? and The_Otherside that can be found in the Apple Arcade subscription. This acquisition strengthens Team17’s position in the mobile market.
Team17 will present its results for 2021 in March but has already informed its shareholders that the group performed better than expected in the second half of the year.