It’s going to be the corporate’s first foray into the tutorial video games market
Group17 has introduced the acquisition of TouchPress, the mum or dad firm of instructional video games developer and writer StoryToys.
The preliminary consideration for the acquisition is $26.5 million, with a further $22.5 million if the studio hits sure targets inside three years.
StoryToys was based in 2011 and specialises in instructional cell video games for youths underneath the age of eight, which have been downloaded over 100 million occasions. The Irish studio has labored with licenses from the likes of Disney, Hasbro, Warner Bros, Lego, and extra.
It is Group17’s first foray into instructional video games, with the announcement saying the corporate “believes demand for instructional leisure apps, which has accelerated on account of the COVID-19 pandemic, targeted on the pre-school viewers will see vital progress going
ahead.” It quotes analysis from Technavio exhibiting that the worldwide marketplace for instructional apps is ready to develop by over $46 billion by 2024.
CEO of Group17 Debbie Bestwick commented: “I’m thrilled to be welcoming StoryToys into the Group17 household and consider our shared tradition and values completely align. In StoryToys, we’re buying a extremely inventive and profitable staff whose capability to each entertain and educate kids is really finest at school.
“Their observe document is with out query however the depth of expertise that exists throughout the enterprise provides us an unrivalled place inside a massively thrilling and excessive progress edutainment space.”
It is Group17’s second acquisition this yr, having beforehand acquired Golf With Your Mates for £12m in January.
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