Infogrames Buys Atari

May 1st, 2008 by Rajiv Ashrafi in Business, News

infogrames_logo_qjpreviewth Publisher Infogrames sent out word that it has acquired the remaining shares of Atari for $11 million, making the financially ailing company a wholly-owned subsidiary. The publisher previously held a majority stake of 51.4% in Atari.

“Bringing Atari US and Infogrames businesses together will enable us to create a simplified global structure for our business as we seek to re-build a well-managed, cohesive and financially disciplined company,” said Infogrames CEO David Gardner.

Atari has been a financially troubled company for quite some time, posting losses constantly. Infogrames, as part of the merger, has agreed to give Atari $20 million in cash. It is not known how Infogrames plans to consolidate Atari into itself.

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