Team17 Group plc (AIM:TM17) entered into an agreement to acquire Touch Press Inc. for $49 million on July 2, 2021. The initial consideration for the acquisition is $26.5 million, with a further maximum $22.5 million payable in cash on delivery of certain targets by the vendors within three years following completion of the acquisition and will be funded from Team17's existing cash reserves. Under the terms of the deal, Team17 will acquire all business and assets belonging to StoryToys parent, TouchPress. StoryToys will operate as a Team17 subsidiary. The acquisition brings the team to Team17, who will continue to operate and function as an independent vertical within the enlarged Group and maintain the StoryToys brand. The acquisition is expected to be immediately earnings accretive, generate returns well above the cost of capital and whilst smaller in scale, deliver margins and cash generation approaching the levels of Team17. Adrian Reed and Paul Lines of GCA Altium Limited acted as financial advisors for Team17.