Team17 Group (TM17)

Sector:

Leisure Products

Index:

FTSE AIM 100

 295.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 350.00
  • 52 Week Low: 152.00
  • Currency: UK Pounds
  • Shares Issued: 145.80m
  • Volume: 557,855
  • Market Cap: £430.12m

Team17 to acquire edutainment firm StoryToys

By Josh White

Date: Friday 02 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Video games company Team17 has agreed to acquire the business and assets of StoryToys, it announced on Friday, via the acquisition of its parent company TouchPress.
The AIM-traded firm said StoryToys is a developer and publisher of educational entertainment, or 'edutainment', apps for children, with the acquisition set to establish a new vertical for Team17.

It said the initial consideration would be $26.5m (£19.26m), with a further maximum $22.5m payable in cash on the delivery of certain targets by the vendors within three years.

The acquisition would be funded from Team17's existing cash reserves.

Team17 said its ambition was to grow StoryToys to be the "global number one" children's edutainment brand for ages eight and under.

The acquisition was expected to be immediately earnings accretive, generate returns well above the cost of capital, and while smaller in scale, deliver margins and cash generation approaching the levels of Team17.

"I am thrilled to be welcoming StoryToys into the Team17 family and believe our shared culture and values perfectly align," said chief executive officer Debbie Bestwick.

"In StoryToys, we are acquiring a highly creative and successful team whose ability to both entertain and educate children is truly best in class.

"Their track record is without question but the depth of talent that exists within the business gives us an unrivalled position within a hugely exciting and high growth edutainment area."

Bestwick said Team17 would be able to support StoryToys' "ambitious" growth prospects and provide a strong platform to accelerate its development.

"Team17 prides itself on its culture and on embracing ambitious management teams - today's announcement is an example of how we intend to make that a reality."

At 0927 BST, shares in Team17 Group were up 3.84% at 758p.

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Team17 Group Market Data

Currency UK Pounds
Share Price 295.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 350.00
52 Week Low 152.00
Volume 557,855
Shares Issued 145.80m
Market Cap £430.12m

Team17 Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.39% above the market average42.39% above the market average42.39% above the market average42.39% above the market average42.39% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
9.84% above the market average9.84% above the market average9.84% above the market average9.84% above the market average9.84% above the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average
Income Not Available
Growth
36.8% below the market average36.8% below the market average36.8% below the market average36.8% below the market average36.8% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average

What The Brokers Say

Strong Buy 5
Buy 6
Neutral 1
Sell 0
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Team17 Group Dividends

No dividends found

Trades for 12-Jul-2024

Time Volume / Share Price
14:12 74,605 @ 300.00p
16:35 3,821 @ 295.00p
16:35 2,253 @ 295.00p
16:35 247 @ 295.00p
16:35 1,321 @ 295.00p

Team17 Group Key Personnel

CFO Mark Crawford
CEO Steve Bell

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