Atari has announced the acquisition of a controlling stake in Thunderful Group, the developer behind the well-received SteamWorld games. The strategic deal, valued at $5.18 million, involves the purchase of 82% of Thunderful`s shares.
Atari CEO and Chairman Wade Rosen remarked that this transaction marks a significant step in the company`s development, strategically expanding its publishing and development capabilities within the European region. He expressed confidence that Thunderful, recognized for its critically acclaimed games, will successfully return to a profitable growth trajectory thanks to the recently announced transformation plan and the dedication of its teams. This move is expected to actively contribute to the further development of Atari`s European operations.
Recently, Thunderful has faced considerable financial difficulties. In 2024, the Swedish company underwent a substantial workforce reduction, laying off approximately 20% of its staff, and initiated a restructuring process several months later. The recent release of the game Lost in Random: The Eternal Die also saw “weak” sales, falling below initial expectations. Consequently, Thunderful today announced an additional round of restructuring efforts, specifically aimed at improving its cash flow.
Atari, on the other hand, has been actively pursuing several notable acquisitions in recent years. These include remastering specialists Nightdive Studios and Digital Eclipse, known for their work on titles like Atari 50 and System Shock 2 Anniversary Remaster. The company also recently secured the intellectual property rights to Transport Tycoon and acquired its long-standing rival, Intellivision, further solidifying its presence in the gaming industry.