Team17 acquires Astragon in deal worth up to $114.6m

Team17 acquires Astragon in deal worth up to $114.6m

UK games label Team17 has acquired German sim specialist Astragon.

The firm has been bought for up to €100 million ($114.6 million); €75 million ($85.9 million) is being paid out in cash, with the other €25 million ($28.6 million) being doled out based on performance.

"We are delighted to welcome the Astragon team into Team17, and believe we are joining forces with one of the leading experts in the simulation games space," Team17 CEO Debbie Bestwick MBE (pictured) said.

"They have decades of game creation and publishing experience, have built an outstanding and highly devoted community and have developed an outstanding portfolio of owned IP across this genre.

"At Team17, we have always strived to build, develop and publish great content for the widest audience possible. With the addition of StoryToys and the expansion of our Games Label, which includes the recently acquired USA based 'The Label' and now Astragon, we have significantly expanded Team17's appeal to the widest ever cross section of gamers, spanning multiple genres and age groups.

"We look forward to working closely with Astragon's joint CEOs Julia and Tim and their whole team who share our ambitions to grow their own IP titles on the path to developing a leading global simulation portfolio brand as part of the Team17 family."

Astragon CEOs Julia Pfiffer and Tim Schmitz added: "Team17 is the perfect home for Astragon as we enter into this exciting new chapter. From the first day we felt that Team17 shares the same vision for our games and understands our target group. Our goal is to become the number one brand in the field of 'working' simulation games. Collaborating with Team17 will enable and help Astragon to evolve and focus on this strategy. We look forward to the possibilities that are opened up by working with what we believe to be a great partner to deliver our ambitions."

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.