Atari has teamed up with Thunderful Group. As a result of this collaboration, shares valued around €4.5 million have been distributed, which Atari will purchase, giving them control over about 82% of Thunderful Group’s total shares and votes. This agreement also involves the issuance of 333,333,334 new common shares.
I’m excited to share that while the deal hasn’t been fully finalized just yet, it’s still in the process of getting approval from Thunderful’s shareholders. An Extraordinary General Meeting (EGM) has been scheduled for August 28 to discuss this approval. Interestingly, the Thunderful Group board of directors, along with two of its major shareholders, Owe Bergsten and Brjann Sigurgeirsson, have all expressed their support for this transaction.
In a press release announcing a new agreement, Atari’s chairman and CEO Wade Rosen stated that this transaction represents another significant step in the company’s evolution as it expands its publishing and development capacities in Europe. Notably, Thunderful, a company known for creating and publishing critically successful games, is set to contribute to Atari’s resurgence and profitability, while also enhancing Atari’s presence in Europe.
A year after a challenging year for Thunderful Group, marked by reductions in workforce, this agreement is signed. Lasting approximately 20 percent of their employees, these redundancies left around 100 workers jobless. The company explained that excessive investments, found to be unsustainable under the present market conditions due to industry-specific challenges, were the reason for this downsizing. In other words, tough market circumstances have heavily impacted Thunderful Group.
In that moment, the company announced their intention to concentrate their resources on the strategic assets showing the most promising future outcomes.
In order to guarantee and enhance the longevity of our group, I’ve had to make some tough decisions. This means streamlining our operations and concentrating on sectors that show the most promising potential for growth and profitability in the future.” (First person perspective as a hypothetical spokesperson for the company)
After a series of layoffs, independent game publisher Headup separated from Thunderful Group. Known for publishing indie games like Bridge Constructor, White Shadows, and Industria, among others, Headup was purchased by Microcuts Holdings – a company founded by Headup’s original founder Dieter Schoeller for this very transaction. Initially bought by Thunderful for €11 million, the price for Headup to leave the group was set at €500,000.
Alternatively, while other companies might be experiencing a downturn, Atari has been witnessing a resurgence. In 2023, the company obtained rights to over a hundred ’80s and ’90s games, as well as Nightdive Studios. Last year, they also acquired the rights for RollerCoaster Tycoon 3. This move was made just a couple of years after Atari announced its intention to concentrate on high-quality console and PC games.
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2025-07-29 16:42