Legacy video video games model Atari has entered into an settlement to purchase European agency Thunderful Group.
The deal has taken the type of a directed share concern of SEK 50 million ($5.1 million) and sees Atari take management of 82 per cent of Thunderful’s excellent shares. Thunderful’s board has given the deal the thumbs up.
“This Transaction marks one other essential milestone in Atari’s improvement with the enlargement of its publishing and improvement capabilities within the European area,” Atari CEO and chair Wade Rosen stated.
“Thunderful is recognised for publishing and growing critically acclaimed video games, and with the introduced transformation plan, in addition to the standard and dedication of Thunderful’s groups, we’re assured that Thunderful will likely be returning to a worthwhile progress path whereas serving to to additional develop Atari operations in Europe.”
Concurrently asserting its acquisition, Thunderful has enacted a restructuring operation that may see the corporate attempt to save between SEK 6 million ($615,700) and SEK 8 million ($821,000) for the second half of the 2025 monetary yr, and one other SEK 40-to-45 million ($4.1-to-£4.6 million) throughout 2026. This consists of job cuts, however Thunderful hasn’t stated how many individuals are going to be impacted. That is the third spherical of restructuring that the corporate has undertaken in the previous few years.
Associated to this acquisition and restructuring, CEO Martin Walfisz is stepping down because the CEO of Thunderful. He took the function two years in the past in August 2023.
“With the restructuring introduced in the present day, Thunderful is getting into a brand new part, and it is usually an acceptable time for a change in management,” Thunderful chairman Patrick Svensk stated.
“These two years turned out to be neither what Martin nor the board had hoped for, however regardless of dealing with excessive adversity, Martin has tackled his duties with dedication, loyalty, and laborious work. I thank Martin for this and need him the most effective of luck.”
