Following a £107 million IPO earlier this year, Team17 has more money than ever before ready to be used for investments, bringing new studios under its wing, and broadening the studio’s reach in all manner of ways. One way this will not be happening, though, is by creating triple-A games.
In a piece on GamesIndustry.biz, Bestwick explains that her company will not be chasing the golden goose of high profile, expensive gaming even with the opportunities afforded thanks to more money in the studio.
"Triple-A is not something we want or are looking at. One under-performing triple-A product and you’ve had a bad year. That’s super high-risk,” Bestwick explained, “The quality of the games on our label… it’s something we call premium indie. It’s why we have so many that have now done seven figures. But we are doing it in a cost-effective manner. You are not going to see us go out there and pick up a £20 million project any time soon."
Bestwick continued: "We are content creators and we are helping other content creators make games, build businesses and develop brands long-term. The IPO hasn’t fundamentally changed this. We are of course thinking about long-term growth, too, but doing it in the right way for us.
"Everyone is expecting us to go out there and buy lots of studios and to do this merger or that acquisition. The biggest job I have is managing everyone’s expectations. Why would we change what we’re doing when it’s delivering such great growth?”
She went on to explain the plan is to acquire more IP, both existing and brand new, but the selection process will be careful and considered – not risky and expensive.
"The other area people often ask is if we plan to add more development capacity,” Bestwick continued, “We do, but we prefer to do it organically. We’ve doubled our headcount in the last couple of years. We have a great culture, so it needs to be right. How many M&A businesses do you see fail?
“You have to find the right cultural fit."