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Jon Wilcox
01/05/2008
Infogrames acquires outstanding shares in the North American division; Atari US becomes a wholly owned subsidiary...
Infogrames has today confirmed an agreement that will end with the purchase of the remaining outstanding shares in Atari US for $11 million. The planned merger is expected to close during the third quarter of 2008.
The move is the latest chapter in a more focused strategy at the publisher, following the appointment of former European EA supreme, David Gardner and SCE Worldwide Studios head, Phil Harrison as CEO and President respectively.
The planned merger between the two outfits is aimed at establishing a more solid launch pad for the brand in the coming months, after an extended period of under-performance across the pond. Speaking about the move, Gardner commented:
"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. This is a key strategic event for Infogrames that will benefit all of our shareholders. I believe that this transaction will generate significant benefits for the Group."
Current Atari US President and CEO, Jim Wilson, is set to head the Group's attempted growth in North America. In a statement, Wilson said that "By joining Infogrames, we will have the opportunity to further transform Atari. As part of this newly integrated company, we will be better able to streamline operations and have a stronger platform for growth in North America."
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