Atari to acquire 82% of Thunderful Group for over $5 million

Atari has announced that it plans to acquire 82% of Swedish holding company Thunderful Group for SEK 50 million ($5.2 million USD).

The details:

• As announced in a new press release, Atari has agreed to purchase 82% of the company’s shares given that its shareholders approve of the deal. A meeting and vote for shareholders has been set for around August 28, with its biggest shareholders, Owe Bergsten and Brjann Sigurgeirsson, giving it the green light.
• Thunderful is the owner of several development studios as well as publishers such as Rising Star Games and its own publishing arm, with IPs including SteamWorld, Reignbreaker, and Viewfinder. However, the company’s recent performance hasn’t been too positive, with it announcing that it would be reducing its workforce by around 20% last year due to financial concerns spawned from overinvesting.
• Meanwhile, Atari has seen a solid performance over the past few years, making some major acquisitions such as Digital Eclipse and Nightdive Studios as well as websites MobyGames and AtariAge. “This transaction marks another important milestone in Atari’s development with the expansion of its publishing and development capabilities in the European region,” CEO and chairman Wade Rosen wrote. “Thunderful is recognized for publishing and developing critically acclaimed games, and with the announced transformation plan, as well as the quality and commitment of Thunderful’s teams, we are confident that Thunderful will be returning to a profitable growth path while helping to further develop Atari operations in Europe.”

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