Atari Set to Acquire Thunderful Group for €4.5 Million

In a bold move shaking up the gaming landscape, Atari has announced its plans to acquire Thunderful Group for approximately €4.5 million ($5.19 million). This strategic purchase involves Atari obtaining an impressive 82% of the Swedish video game holding company’s shares, a transaction set at SEK 50 million.

However, the deal won’t finalize until it garners shareholder approval. An extraordinary general meeting is scheduled for “on or about” August 28, where stakeholders will cast their votes.

According to Atari’s statement, the Board of Directors at Thunderful has unanimously backed the transaction. Additionally, two of the largest existing shareholders, Owe Bergsten and Brjann Sigurgeirsson—who control a collective 29.9% of the equity and voting rights—have also shown support.

Expanding European Influence

Atari’s CEO and chairman, Wade Rosen, hailed this acquisition as a significant step in enhancing Atari’s publishing and development capabilities across Europe. He stated, “Thunderful is recognized for publishing and developing critically acclaimed games.” With the company’s recent transformation plan, Atari is optimistic about Thunderful’s potential to return to a path of profitable growth.

Thunderful Group boasts several studios located in Gothenburg, Karlshamn, Malmo, and Skovde, along with publishing brands like Thunderful Publishing and Rising Star Games. Their catalogue includes popular titles such as the SteamWorld series, *Lost in Random*, *Reignbreaker*, *Viewfinder*, *The Gunk*, *Lego Bricktales*, and *Cursed to Golf*.

Navigating Tough Times

Last year, Thunderful announced a substantial restructuring process that included layoffs for a fifth of its workforce. The company attributed these tough decisions to a series of “over-investments” made during previous years. Thunderful pointed to challenging market conditions as a major factor impacting their business.

This acquisition could potentially signal a new era for Atari as it aims to not only bolster its portfolio but also breathe new life into Thunderful’s operations. As the gaming industry continues to evolve, the synergy between these two companies might just lead to exciting new developments on the horizon.