Atari has entered an agreement to acquire retro game publisher and developer Nightdive Studios in their latest bid on classic games.
The new buyout will reportedly be for $10 million, of which half will be cash the other half will be Atari share, plus an additional $10 million in cash over hte next 3 years based on the developer’s performance.
Atari is expecting to close the deal quickly, too, with a reported closure date set for sometime in April of this year.
Wade Rosen, Chairman and CEO of Atari, commented: “Night Dive’s proven expertise and successful track record in commercializing retro IP is well-aligned with Atari’s strategy and I am confident that their combined talent, technology and IP portfolio will contribute to Atari’s future success.”
Stephen Kick and Larry Kuperman, principals of Night Dive commented: “Night Dive and Atari have a long history together and we know that Atari shares our passion for retro games and our focus on producing high-quality new and remastered games that do justice to the original IP. As we look to grow our business and expand our capabilities, we could think of no better long-term partner than Atari.”