Atari is set to acquire Thunderful Group in a deal worth around €4.5 million ($5.19 million).
As announced in a press release today, Thunderful [28 articles]” href=”https://www.videogameschronicle.com/companies/thunderful/”>Thunderful’s Board of Directors, as well as from two of Thunderful’s existing largest shareholders, Owe Bergsten and Brjann Sigurgeirsson, who together own 29.9% of the capital and voting rights in the company,” Atari’s statement says.
Atari CEO and chairman Wade Rosen said: “This transaction marks another important milestone in Atari’s development with the expansion of its publishing and development capabilities in the European region.
“Thunderful is recognized for publishing and developing critically acclaimed games, and with the announced transformation plan, as well as the quality and commitment of Thunderful’s teams, we are confident that Thunderful will be returning to a profitable growth path while helping to further develop Atari operations in Europe.”
Thunderful owns numerous studios in Gothenburg, Karlshamn, Malmo and Skovde, and has publishing arms including Thunderful Publishing and Steam [2,538 articles]” href=”https://www.videogameschronicle.com/platforms/pc/steam/”>SteamWorld series, Lost in Random, Reignbreaker, Viewfinder, The Gunk, Lego Bricktales and announced plans to lay off a fifth of its staff as part of a restructuring process, which it said was down to a number of “over-investments” made by Thunderful in the last few years.
“These investments have proven unsustainable given the current industry climate, which has resulted in the Group being particularly affected by challenging market conditions,” it explained at the time.
