eam17, the Uk movie games enterprise, has clinched a $48 million (£34.8 million) offer to purchase Ireland’s StoryToys, a maker of educational apps for little ones.
Launched in 2011, Dublin-based mostly StoryToys is a developer of apps for children aged 2-7 yrs which operates with major makes which include Disney, Pixar, Hasbro, and Nickelodeon.
Wakefield-based Staff17, which floated on the inventory current market in 2018, is funding the offer from its very own funds reserves.
It statements the offer will support cement its position in a fast-rising new current market and broaden its access to a new age group.
The global current market for academic applications is forecast to improve by $46 billion in between 2020 and 2024, at an once-a-year progress price of 26% according to Technavio.
Group17, whose top rated video clip video games titles contain Worms and Alien Breed, employs 250 individuals mostly in Leeds, Nottingham and Manchester.
Emmet O’Neill, chief executive of StoryToys, mentioned: “Our goal is to be the number 1 service provider of edutainment written content for younger small children. Collaborating with Crew17 will make that a speedier and much more exciting journey.”
StoryToys applications have been downloaded in excess of 100 million instances throughout 120 nations around the world
Shares in Goal-mentioned Workforce17 rose 25.38p to 755.38p.