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Tuesday, 14 October 2008 12:14

Infogrames wraps up Atari acquisition

Written by Nedim Hadzic

Image

For $11 million

 

France-based publisher, Infogrames, announced that it has completed the purchase of Atari, its partially owned subsidiary.

Infogrames previously had a 51% stake in the company, but has now bought all outstanding stock for $1.68 per share, totaling $11 million.

Atari’s management won’t be leaving the company, as Infogrames announced that this merger was more of a push for the company’s recovery. Infogrames’ new strategy will also include initiatives for cutting expenses, finding new U.S. distribution partnerships and focusing more on online gaming.

More here.

Last modified on Wednesday, 15 October 2008 04:10
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