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Infogrames Completes Atari Buyout
Posted by Owen Good at 3:40 AM on October 12, 2008
Finally, some news about a troubled, bankrupted former household name getting bought up by someone other than the government. Infogrames has completed its purchase of Atari, for all of $US11 million. The French publisher already owned about 51 percent of Atari. In April, Atari pretty much threw in the towel, was de-listed from the stock exchange, and accepted Infogrames' offer to buy the rest of its shares at $US1.68 per. Oh, Infogrames also loaned junior $US20 million to make it through to the completion of the buyout.
Atari's former management team, Jim Wilson, Tim Flynn and Jeff Reese will stay on, among the few survivors of an Infogrames whack about a year ago. directing their efforts on rehabbing the brand in North America. Infogrames also gave a four-point strategy it 'll follow under a new "simplified global structure"
• Reduce general and administrative expenses, including costs related to being a US public company, and generate economies of scale
• Provide greater opportunities to develop the US distribution business and find new partnerships
• Strengthen the US online platform to develop online operations
Infogrames Completes Atari Inc Acquisition [GamesIndustry.biz]
Comments (AU Comments · US Comments)
There are currently no AU comments for this post.
Z-Word
Posted 5:21 AM 12/10/08
Infrogrames' logo has always reminded me of an armadillo.
Z-Word
DukeOfPwn
Posted 5:21 AM 12/10/08
Atari is a cursed brand. People just need to abandon it and move on.
DukeOfPwn
ShineyBlueShoes
Posted 5:13 AM 12/10/08
So Infogrames has been publishing everything under the Atari since like 02 but has only now finished the buyout?!?
ShineyBlueShoes
juc
Posted 5:12 AM 12/10/08
Now infrogrames simply needs to turn into atari and then get bought out to continue this cycle.
I swear, having atari is like a poison pill.
juc
NeoAkira
Posted 5:07 AM 12/10/08
Sad to see this happening to a company that used to be so renowned in the video game world. But best of luck to them.
NeoAkira
ZetaCrossfire
Posted 4:53 AM 12/10/08
Well good luck Atari
ZetaCrossfire
Pezdispenser
Posted 5:38 AM 12/10/08
@jayntampa:
"Mobygames
The definitive resource for PC Games
Mobygames.com"
Methinks they don't like bandwidth loss.
Pezdispenser
jayntampa
Posted 5:29 AM 12/10/08
@jayntampa: Just to add to myself -- here's their original logo, which I, sadly, actually remember:
[www.mobygames.com]
jayntampa
jayntampa
Posted 5:27 AM 12/10/08
@Z-Word: Umm ... that's because it is an armadillo. They chose it because it's survived so many changes of the environment throughout history.
jayntampa
CreativeCat89
Posted 5:24 AM 12/10/08
Just don't touch my neverwinter nights.
CreativeCat89
GOLD5
Posted 5:52 AM 12/10/08
They forgot:
d) remove head from ass
GOLD5
Z-Word
Posted 6:11 AM 12/10/08
@jayntampa: Well, that explains it! Who knew the French had even heard of armadillos?
Z-Word
dawimp523
Posted 6:08 AM 12/10/08
So, Infogrames owns Atari? I thought it was the other way around! I guess it makes sense since they haven't had much financial success since the early '90's.
dawimp523
Dexor
Posted 8:35 AM 12/10/08
So what does that mean for Phil Harrison?
Dexor
jayntampa
Posted 10:42 AM 12/10/08
@Pezdispenser: Crap ... I think I destroyed mobygames.com ... oops.
jayntampa
Aresef
Posted 12:58 PM 12/10/08
I thought Infogrames completed the takeover years ago. Well meh.
Aresef
Zenrick2.0
Posted 1:32 PM 12/10/08
I always thought this company has THE most annoying sounding name. Atari sounds much better than Infogrames.
Zenrick2.0
kingcnut
Posted 8:14 PM 12/10/08
Bring out North and South again, dl on psn and xbl. Financial worries over!
kingcnut
ChalkdustTorture
Posted 7:26 AM 12/10/08
What do the Phil clones make of this news?
ChalkdustTorture