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Team17 owner Everplay increases shareholding in Wardogs dev Bulkhead, touts strong FY26 results
Everplay, the owner of Team17, has increased its shareholding in Wardogs developer Bulkhead following the game's success since its early access launch. Despite a reported decrease in revenue and profit for Everplay in the first half of FY26, the company anticipates strong full-year results, driven by the outperformance of Wardogs and Hell Let Loose: Vietnam. Everplay also noted significant growth in its subsidiary StoryToys.
"They wouldn't look at any game that was less than £50 million" Why Tencent's all-in strategy didn't suit Bulkhead
Bulkhead, a studio acquired by Tencent via Splash Damage, found the parent company's demand for games with budgets over £50 million unsuited to their development style. Despite initial success with Battalion 1944 and pitching the PC shooter Wardogs, Tencent's scale led to Bulkhead spinning out into a new holding company, Super Media Group, with Team17 and Hiro Capital. The studio is now focused on Wardogs, aiming for a sustainable player base rather than massive AAA success.
