Atari Invests €4.5 Million to Acquire 82.6% Stake in Thunderful Group Amid Restructuring and Workforce Reductions

Atari Moves to Acquire Controlling Interest in Thunderful Group Amid Restructuring

Atari has announced a significant acquisition plan to obtain a controlling interest in Thunderful Group, the publisher renowned for the SteamWorld series and various other game franchises. This acquisition comes at a challenging time for the Swedish company, which is currently undergoing substantial restructuring efforts that have regrettably resulted in layoffs.

Investment Details and Shareholder Approval

In a recent announcement, Atari disclosed that it will invest 50 million SEK (approximately €4.5 million) in Thunderful via a directed share issue. Upon completion of this investment, Atari is poised to claim about 82.6% ownership of Thunderful, effectively positioning itself as the company’s principal stakeholder. However, it is crucial to note that this agreement hinges on the approval of Thunderful’s shareholders, who will cast their votes during a meeting scheduled for August 28.

Thunderful’s Restructuring Process and Layoffs

Simultaneously, Thunderful Group has revealed that a comprehensive restructuring initiative is underway to streamline its operations and enhance cash flow. This strategic move follows an internal review, which concluded that cost adjustments are necessary for the company to remain profitable, even amid reduced revenue levels. Regrettably, these adjustments have resulted in job losses within both the game development studios and the publishing branch, perpetuating a distressing trend in the industry. Thunderful’s Chairman, Patrick Svensk, addressed these developments, expressing his disappointment about the layoffs while emphasizing the necessity of these changes to forge a more efficient publishing organization.“It is unfortunate to have to implement further operational measures that affect some of our colleagues. At the same time, I am convinced that this is the right path for Thunderful to create an efficient organization within the publishing business where our announced release pipeline remains intact, ”he stated.

A Shift in Atari’s Strategy

The move to acquire Thunderful Group marks a potential shift in Atari’s strategic focus. Historically, the publisher has concentrated on retro gaming by acquiring studios like Digital Eclipse and Nightdive Studios. Observers are eagerly anticipating how Atari’s future plans will unfold, especially considering the implications for Thunderful’s notable developments and the overall gaming landscape.

As this acquisition progresses, industry analysts and gamers alike will be watching closely to see how these changes will influence the future of one of the gaming industry’s more established entities.

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