In the video game industry, the next acquisition was being engineered. Atari acquires Nightdive, a developer, which will cost the company up to $20 million.
In the video game business, takeovers have become almost a part of everyday life for several years. While Microsoft is investing many billions in this area and is taking entire publishers and their studios off the market on a large scale, other companies are content with their individual studios.
This includes Atari. Nightdive Studios is a company that is well-known for remixing different retro games.
Nightdive's purchase is fairly manageable in terms of capital: It will initially be valued at $10 million and will be split equally between cash and Atari stock.
Nightdive Studios' tax performance will result in a deferred profit sharing of up to an additional $10 million payable over the next three years. The transaction is expected to close in the next month.
The couple's history has gone back centuries.
"I am certain that Nightdive's combined talent, technology, and IP portfolio will contribute to Atari's future success," said Wade Rosen, Atari's chairman and CEO.
Stephen Kick and Larry Kuperman, Nightdive's CEOs, said the development and Atari have a "long history together," and that the publisher has a "passion for retro games" and is dedicated to reimagining high-quality games.
"We couldn't think of a better long-term partner than Atari," said the two managing directors.
Nightdive was founded in 2012, and the company has remastered numerous classic titles, including "System Shock", "PowerSlave Exhumed", "Shadow Man", "Doom 64", "Quake, Turok: Dinosaur Hunter", and "Turok 2: Seeds of Evil".
Nightdive Shock Reports: System Shock
The studio is currently developing a complete System Shock remake, with the first PC version expected on May 30, 2023, while the console version will follow at a later date.
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