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Worms creator Team 17 confirms plans to go public

"The IPO will not only broaden the profile of the business globally, but will enable Team 17 to continue to capitalize on our position as a leading independent video games label for indie developers."

Worms creator Team 17 will go public on the London Stock Exchange in a listing valued at around £200 million ($280 million). 

As reported by the Financial Times, the British outfit is looking to sell a 50 percent stake on the London AIM (a sub-market of the London Stock Exchange), and hopes the move will broaden its global profile.

Although its best known as the developer behind the Worms franchise, the company has also made inroads into the publishing business, helped bring titles like Overcooked, The Escapists, and Yooka-Laylee to market. 

"We have created an immensely powerful base from which to continue to grow our business, supported by a hugely talented team and an ever-expanding stable of world class content and partners," said Team 17 founder Debbie Bestwick, who could receive a "sizable windfall" if the floatation is successful. 

"The IPO will not only broaden the profile of the business globally but will enable Team 17 to continue to capitalize on our position as a leading independent video games label for indie developers, as well as continuing to successfully develop our own intellectual property in-house."

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