Worms creator nets $21.9 million, acquires Escapists dev
British developer and publisher Team17 has received a £16.5 million ($21.9 million) investment from Lloyds Development Capital (LDC) to build out its operations on an international level.
As part of the deal, LDC will pick up a minority stake in the Worms creator, and has suggested it may offer more funding in the future.
The studio has already used some of the cash to acquire the rights to The Escapists franchise -- which it published earlier this year -- along with its creator, Mouldy Toof Studios.
"LDC shares our vision and understands the importance of people and the way our incubation program and our business models work," said studio CEO Debbie Bestwick, speaking to MCV.
"I believe it's fair to say that we have the same common goals about creating successful IP and supporting new and established studios to become sustainable businesses that will become long-term partners with Team17," she said.