Team17 acquires ‘Hell Let Loose’ IP for £46 million

Team17 has announced that it is acquiring the Hell Let Loose intellectual property rights from Black Matter Games.

Team17 has been a third party publisher of Hell Let Loose (HLL), a multiplayer team-based WW2 first-person shooter, for several years. Now it intends to add the title to its first-party portfolio. It is purchasing the IP for £31 million, with consideration of £15 million subject to performance. (Thanks, The Loadout).

The acquisition was announced in a press release, which said that “it will enable Team17 to create additional opportunities to extend the lifecycle of the existing game, including further downloadable content and ongoing support as well as exploring potential sequels and other commercial opportunities for the HLL IP to drive the longer-term growth and value of the HLL franchise.”

Michael Pattison, CEO at Team17, said, “We are delighted to be announcing the acquisition of the Hell Let Loose IP. Hell Let Loose has quickly become a highly credible and innovative multiplayer tactical first-person shooter supported by a very passionate and highly engaged community with over six million players.”

He continues, “having built a close and extremely productive relationship with Black Matter already, we believe that by bringing Hell Let Loose into the Team17 stable, we can serve and build upon the needs of an ever-growing community, improve and expand upon the existing player experience and develop new ways to entertain and delight. We firmly believe Hell Let Loose can become the definitive large-scale team-based military simulation.”

Max Rhea, founder and CEO of Black Matter, also said in the press release that “This is a wonderful opportunity for our fans and a logical next step-up in the development of Hell Let Loose as a brand. Team17 love our brand and community as we do, which has expanded across multiple platforms successfully. We’ve worked very closely with our good friends at Team17 over the last several years and firmly believe that this acquisition is the next logical step to enable us to further deliver great content to the highly passionate HLL community, as well as find new ways to engage and entertain in the future.”

In other news, Red Dead Online fans have accused Rockstar of abandoning the game after the latest update.

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