Merger complete: Infogrames acquires Atari for US$ 11 million |
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It may have taken some patience but it's finally done. According to a press release, Infogrames has acquired Atari for US$ 11 million. If you could remember, Infogrames offered a buy-out proposal as early as March in light of Atari's financial struggles.Prior to making the deal, Atari hired a new CEO and sought a deadline extension on the Infogrames offer to explore all possible options. With Atari's agreement, Infogrames will acquire all the remaining outstanding equity interests of Atari (computed at US$ 11 million). In return, Atari will now become a wholly-owned subsidiary of Infogrames.
Here are specifics of the agreement:
- brings to a close a period of financial underperformance for Atari;
- strengthens Atari under Infogrames' new management team;
- delivers a platform for future growth in the US; and
- offers Atari shareholders an all cash exit.
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Comments [refresh]
Man they should have waited until Alone In The Dark is released before excepted a crumb of a cookie offer like $11 million! I am disappointed by that confidence. I plan on buying Alone In The Dark when its released. That game looks very interesting, but now I guess Atari is going to make less from it, having to share the profit with Infogrames, I assume.