Infogrames buying Atari for $11 million

A

aleeock157

Ninja Kitteh
http://www.joystiq.com/2008/05/01/infogrames-buying-atari-outright-for-11-million/

Infogrames announced that it will buy the remaining stock of Atari in an $11 million merger and will immediately lend $20 million to the company before the deal closes. Although it's been hard to distinguish the two companies, Infogrames only had a 51.4% controlling interest in Atari, which will now become a wholly owned subsidiary of Infogrames by the third (calendar) quarter.

Former Sony executive Phil Harrison, who is now Directeur Général Délégué at Infogrames, said a little while ago that we should think of Atari/Infogrames as a start-up ... and we're slowly getting there. With this merger opening up the full-on name change, along with the slew of new executives the company is collecting, the Atari/Infogrames we know now doesn't seem to be the Atari we'll know in a year. Whether any of this fixes the grim financial situation of the publisher, however? That's a story for another time.
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I don't know... does anyone else think that seems REALLY CHEAP!?!

I mean, we are talking about a company that did a lot for us all in the early years of gaming... I think that's crazy this is what they came to.

†B†V† :hat
 
It doesn't seem cheap until you step back and look at it from a business salary point of view, in which case, it isn't a lot at all.
 
fhqwhgads said:
It doesn't seem cheap until you step back and look at it from a business salary point of view, in which case, it isn't a lot at all.
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$11 million is really pocket change to a lot of companies... I mean... does this excluse licensing of older games?


†B†V† :hat
 
Bluevoodu said:
I don't know... does anyone else think that seems REALLY CHEAP!?!

I mean, we are talking about a company that did a lot for us all in the early years of gaming... I think that's crazy this is what they came to.
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No. you have to remember that Atari underwent a full scale collapse. The Nasdaq announced they were pulling it from it because there wasn't enough money, collectively in its stocks. Like I said before, it's literally a cent a share.

And most of its licenses and IP's have been sold off.
 
Bluevoodu said:
I don't know... does anyone else think that seems REALLY CHEAP!?!

I mean, we are talking about a company that did a lot for us all in the early years of gaming... I think that's crazy this is what they came to.

†B†V† :hat
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Uh, I'm pretty sure that today's Atari isn't the exact same company from the 1980's. They've passed hands so much.
 
Nova said:
Uh, I'm pretty sure that today's Atari isn't the exact same company from the 1980's. They've passed hands so much.
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I know that... I am more talking the name Atari... it's just not right to see the last few years and then this.

For awhile, it seemed like Atari was going to pull through. Guess that never happened... of course.

BV :hat
 
Atari/Infogrames' biggest IP was DBZ if I recall correctly. It's pretty big, but most companies have more than one cash cow to rely on.
 
Bluevoodu said:
I know that... I am more talking the name Atari... it's just not right to see the last few years and then this.

For awhile, it seemed like Atari was going to pull through. Guess that never happened... of course.

BV :hat
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We talked about this on a podcast, actually. :P :lol

But yeah, for what Atari had left, 11 million seems more than fair.
 
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