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Forums - Sales - Infogrames offers to buy Atari Inc

elnino334 on 07 March 2008

http://www.gamesindustry.biz/content_page.php?aid=33881

 

Offering $1.68 per share for remaining stock

Atari Inc has announced that it received a letter from Infogrames Entertainment SA, the company's majority shareholder, expressing its intent to acquire the remaining outstanding stock of the company.

Infogrames' offer, which is non-binding, amounts to USD 1.68 per share for the Atari Inc stock it does not own.

Atari Inc said that a special committee of the company's board of directors intends to undertake, together with its advisors, a thorough evaluation of the proposal.

There is no assurance that any transaction will occur or to the terms of any transaction.

The Infogrames business is currently in the midst of a resurgence lead by the vision of new CEO David Gardner.

Gardner has placed great value on the Atari brand, and intends to rebuild the struggling company as a destination for online gaming.

This week former Sony executive Phil Harrison joined Infogrames as president, where he will oversee software development and other creative aspects of the business.

Gardner spoke to GamesIndustry.biz at the start of the week, and the full interview can be read here.http://www.gamesindustry.biz/content_page.php?aid=33705



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Dallinor on 07 March 2008

Both companies are currently in financial trouble. Infogrames must really think Atari is a vaulable asset to consider making a full buyout.



 

Fastrabbit09 on 07 March 2008

this should be in gaming forum



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elnino334 on 07 March 2008
Fastrabbit09 said:
this should be in gaming forum

 

But is a potential sale! LOL Someone can remake it if they want I don't care. Looks like having Phil Harrison is already paying off.

Mummelmann on 07 March 2008

Phil Harrison says he likes a challenge, well... he's got one now! I'd not want to be the Atari helmsman right now.



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Chadius on 07 March 2008

Infogrames and Atari are both in deep poo.

I really do wonder how much this will help either company.



There is no such thing as a console war. This is the first step to game design.

leo-j on 07 March 2008

Something tells me microsoft will buy EA, as sony buys this company along with ATARI.



 

mM
Final-Fan on 07 March 2008

I wonder if it's really worth it for Infogrames to do this? What is the advantage if it is already the majority stockholder? (I don't know much about this sort of thing.)



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Lumbo on 07 March 2008

They want to bury it as they created it ;)

 

Atari is the former American devision of Infogrames. Infogrames bought the Atari name a few years ago to give its distribution sector in the states a little shine. It didn't play out as they thought, hence the losses from the Atari business.

 Now they will buy out the remaining shareholders and terminate the brand going back to Infogrames America.

 

Pretty normal business with unsuccessfull outsourcing.