A new front opens up for the future of the online multiplayer shooter.
Team17 Digital has announced a co-development agreement with Expression Games for Hell Let Loose. The co-development of Hell Let Loose heralds a new chapter for the BAFTA Games nominated title, which was acquired by Team17 Digital from the game’s original development studio, Black Matter, at the start of 2022.
Michael Pattison, CEO, Team17 Digital, said: “Today’s announcement marks an exciting new chapter for Hell Let Loose and for Team17. A little over a year ago, we acquired the brand with the aim of building on its incredible initial success across PC, and PlayStation and Xbox consoles, and forge it into a powerhouse multiplayer shooter to rival its AAA competitors. This co-development agreement is one part of a bigger picture for our dedicated Hell Let Loose studio team which will help us deliver on that ambition in the years ahead.”
Errol Ismail, General Manager, Expression Games, said: “Hell Let Loose has proven to be a real challenger to established online multiplayer shooters, even during its time in Steam Early Access, so we are really thrilled to be able to work with Team17 on taking the game to even bigger heights. As part of the wider Hell Let Loose studio and together with Team17, we’re looking forward to sharing more with the incredibly passionate Hell Let Loose community; we’re really excited by the vision for the game and for where the journey will take us.”
Hell Let Loose first launched on Steam Early Access on 6th June 2019, before fully releasing on PC two years later in July 2021. It launched on PlayStation®5 and Xbox Series X|S in October 2021 with crossplay enabled between the two console platforms. To date, 13 free major content updates have been released for Hell Let Loose, most recently the Burning Snow update that launched in November 2022.
The Team17 Group acquired the Hell Let Loose IP from Black Matter on 6th January 2022 through a combination of £19.75 million in cash from existing reserves and the issue of 1,531,780 consideration shares, valued at £11.25 million, based on an issue price of 734.44 pence which were subject to a lock-in period of 12 months from the date of the acquisition.