Atari Nears Majority Stake Acquisition in Thunderful Group

Atari is set to become the majority owner of Thunderful Group, acquiring about 82% of its shares through a €4.5 million investment pending shareholder approval. Thunderful, a Swedish game publisher and developer known for the SteamWorld series and other titles, has faced financial challenges recently, including multiple restructurings and layoffs due to weaker-than-expected sales and over-investments. CEO Martin Walfisz of Thunderful will be stepping down by the end of the year as part of the company's restructuring efforts aimed at improving cash flow and shifting away from reliance on individual game releases. Atari's chairman and CEO, Wade Rosen, expressed confidence that Thunderful will return to a profitable growth path and enhance Atari's publishing and development capabilities in Europe. This acquisition follows Atari's recent spree of strategic acquisitions, including Intellivision and the Surgeon Simulator IP, signaling its intent to expand its footprint in the gaming industry. The deal, supported by Thunderful's board and major shareholders, is expected to close after an extraordinary general meeting scheduled for August 28.