Atari is about to amass Thunderful Group in a deal price round €4.5 million ($5.19 million).
As introduced in a press launch at present, Atari has agreed to purchase 82% of the Swedish online game holding firm’s shares at a complete value of SEK 50 million.
The transaction is topic to shareholder approval, and a rare normal assembly has been set for “on or about” August 28 for a vote to happen.
“The transaction has obtained unanimous assist from Thunderful’s Board of Administrators, in addition to from two of Thunderful’s present largest shareholders, Owe Bergsten and Brjann Sigurgeirsson, who collectively personal 29.9% of the capital and voting rights within the firm,” Atari’s assertion says.
Atari CEO and chairman Wade Rosen mentioned: “This transaction marks one other necessary milestone in Atari’s improvement with the growth of its publishing and improvement capabilities within the European area.
“Thunderful is acknowledged for publishing and growing critically acclaimed video games, and with the introduced transformation plan, in addition to the standard and dedication of Thunderful’s groups, we’re assured that Thunderful will likely be returning to a worthwhile development path whereas serving to to additional develop Atari operations in Europe.”
Thunderful owns quite a few studios in Gothenburg, Karlshamn, Malmo and Skovde, and has publishing arms together with Thunderful Publishing and Rising Star Video games.
Video games revealed by Thunderful embody the SteamWorld collection, Misplaced in Random, Reignbreaker, Viewfinder, The Gunk, Lego Bricktales and Cursed to Golf.
Final 12 months Thunderful Group introduced plans to put off a fifth of its employees as a part of a restructuring course of, which it mentioned was right down to a variety of “over-investments” made by Thunderful in the previous couple of years.
“These investments have confirmed unsustainable given the present business local weather, which has resulted within the Group being notably affected by difficult market situations,” it defined on the time.
