Atari was one of the pioneers in the video game industry and responsible for much of what we know today, but over time, the company ended up losing its relevance and was overtaken by other developers. As a way to try to get back to its glory days, the company announced this week the acquisition of Nightdive Studios, an indie studio based in Vancouver, Canada – known for reviving lost and forgotten game franchises.
The agreement between Atari and Nightdive was announced via a press release. In addition to acquiring 100% of the independent studio, Atari also announced that it intends to move forward with the issuance of €30 million bonds convertible into new Atari shares.
Through the acquisition of Nightdive Studios, Atari intends to grow its library of intellectual properties, being able to leverage Nightdive’s technology and use the studio’s publishing resources to support the publisher’s retro-focused growth strategy.
Night Dive and Atari have a long history together, and we know that Atari shares our passion for retro gaming and our focus on producing high quality new and remastered games that do justice to the source material. As we look to grow our business and expand our capabilities, we couldn’t think of a better long-term partner than Atari.
Stephen Kick It is Larry Kuperman from Nightdive Studios.
Atari CEO and President Wade Rosen added:
Night Dive’s proven experience and successful track record in commercializing retro games is well aligned with Atari’s strategy, and I am confident that their combined portfolio of talent, technology and intellectual property will contribute to Atari’s future success.
For those who don’t know, Nightdive is currently working on the next System Shock Remake. The remake was supposed to be released this month, but it was pushed back to May. In addition to coming to PC, the remake will also come to PlayStation 4|5, Xbox One, and Series S|X. More details on the console versions will likely be shared soon.
Recently, Atari revealed a change in its market strategy and decided to abandon free mobile games to focus on premium PC and console games. The recent acquisition only proves that the new plans are already in place.
Do you think Atari has a chance of returning to its glory days?