British video games developer Team17 has revealed it is changing its name to everplay group as it cheered robust festive trading.
The group behind games including Worms said the rebrand reflects the “evolution” of the business since its flotation in 2018, as well as its “DNA to never stop playing”.
The name change is set to take effect officially in early February.
Details of the plan came as the firm said annual sales and underlying earnings were set to be slightly ahead of market expectations thanks to strong Christmas trading, with a better recent performance from new releases and solid back catalogue demand.
It added it has seen the “encouraging momentum” continue into January.
Shares in the firm surged more than 14% at one stage in Thursday morning trading after the update.
I firmly believe everplay will become synonymous with creating games that deliver a lifetime of play
Chief executive Steve Bell said the new name “better represents our business which has evolved greatly since the initial public offering and reflects our DNA to never stop playing”.
He said: “This rebrand not only creates an ideal backdrop to foster greater cross-collaboration internally, but also reflects our aspirations to expand our reach across complementary sectors within the broader indie market.
“Fundamentally, we want to create pioneering and captivating experiences that enrich and inspire players around the world, and I firmly believe everplay will become synonymous with creating games that deliver a lifetime of play.”
The firm will continue to trade across three divisions – its games developer arm Team17; astragon, a working simulation games developer and publisher; and education entertainment apps business StoryToys.
