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]