For $11 million
France-based publisher, Infogrames, announced that it has completed the purchase of Atari, its partially owned subsidiary.
Infogrames previously had a 51% stake in the company, but has now bought all outstanding stock for $1.68 per share, totaling $11 million.
Atari’s management won’t be leaving the company, as Infogrames announced that this merger was more of a push for the company’s recovery. Infogrames’ new strategy will also include initiatives for cutting expenses, finding new U.S. distribution partnerships and focusing more on online gaming.
More here.
