NEW YORK, May 15, 2023 [crocon media – dgoldsmith] PARIS, FRANCE – Atari®, one of the world’s most iconic consumer brands and interactive entertainment producers, has successfully completed the acquisition of Night Dive Studios Inc. (“Nightdive”), a US-based full service game development and publishing company. The acquisition was announced on March 22, 2023, and it marks a significant addition to Atari’s already impressive library of owned intellectual property.

Through this acquisition, Atari aims to further its retro-focused growth strategy by leveraging Nightdive’s proprietary technology and publishing capabilities. This partnership brings together two companies passionate about preserving and innovating in retro gaming.

Stephen Kick, CEO of Nightdive, has expressed excitement for the collaboration, stating that Atari’s support will foster growth and expansion for their business. Wade Rosen, Chairman and CEO of Atari, reciprocated the sentiment, expressing confidence in Nightdive’s talented team and looking forward to their upcoming releases.

The purchase of Nightdive came at a price of an initial US$9.5 million, which was split between cash (US$4.5m) and newly issued Atari shares (US$5.0m). There is also an earn-out of up to US$10 million, payable over the next three years based on Nightdive’s future performance.

The deal also resulted in Nightdive’s founders holding 7.9% of Atari’s share capital and 7.8% of its voting rights, while Wade Rosen now holds 27.7% of Atari’s share capital and 27.5% of its voting rights.

As part of the agreement, Nightdive’s founders have agreed to a 6-month lock-up on their Atari shares.

The cash portion of the purchase will be partially refinanced by the issuance of €30 million Convertible Bonds, announced in March 2023. The details of the bonds will be released in the coming weeks, subject to approval by the Autorité des marchés financiers (AMF).

The acquisition of Nightdive Studios represents a significant step forward for Atari in the realm of retro gaming and demonstrates the company’s commitment to growth and innovation in this field.

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NEW YORK, May 4, 2023 [crocon media – dgoldsmith] Atari (Euronext: ALATA), one of the world’s most iconic consumer brands and interactive entertainment producers, has announced the acquisition of over a dozen Atari 2600 games originally published under the M Network label. The collection features fan favorites such as Armor Ambush, Astroblast, Frogs And Flies, Space Attack, and Star Strike. Atari aims to increase the digital and physical distribution of these classic titles, develop new games based on the intellectual properties (IPs), and explore brand and merchandising collaborations.

“Atari’s early history is marked by a unique moment with M Network, and this acquisition significantly expands the Atari 2600 catalog,” said Atari CEO Wade Rosen. “We have the potential to reintroduce these titles in various ways, ranging from re-releasing them in collections to creating new games based on the acquired IPs.”

In addition to the game titles, Atari also acquired the corresponding rights to the M Network brand. M Network was a video game division within Mattel that produced games for the Atari 2600 video game system during the 1980s.

This acquisition marks Atari’s third expansion in 2023 that extends the company’s classic games catalog. In March, Atari announced the acquisition of a dozen classic arcade games, including Berzerk and Frenzy. In April, the company revealed the acquisition of 100 PC and console titles from the 1980s and 1990s, featuring notable games from the Bubsy, Hardball, and Demolition Racer series.

Atari is currently undergoing a multi-year effort to transform the company behind one of the world’s most iconic brands. A crucial aspect of this effort involves expanding Atari’s video game business by leveraging the company’s extensive catalog of IP to release classic games and introduce new, high-quality games to the market. Atari’s vast library of IP serves as a treasure trove for developing new and exciting game ideas, reinventing old classics, reimagining storylines, and creating entirely new narratives inspired by the games that laid the foundation for an entire industry.

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crocon media is owned by the sillc assembly. This site is for entertainment purposes only. The owner of this site is not an investment advisor, financial planner, nor legal or tax professional and articles here are of an opinion and general nature and should not be relied upon for individual circumstances.

Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The author(s) of this article may hold a position in the mentioned stock. The information provided in this article should not be considered financial advice, and readers should always do their own research before making investment decisions. However, as with any investment, there are potential risks and uncertainties to consider, such as potential regulatory changes, market volatility, and competition from other players in the industry. It is important for investors to carefully monitor this stock and its performance over time to make informed decisions about their investments.

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