Infogrames buys Atari

Thursday, 1 May 2008 07:20 GMT By Patrick Garratt

As expected, Infogrames has bought Atari in a transaction costing $11 million.

Atari is now a wholly-owned subsidiary of Infogrames. The deal is expected to close out in the third quarter.

“Bringing Atari US and Infogrames businesses together will enable us to create a simplified global structure for our business as we seek to re-build a well-managed, cohesive and financially disciplined company,” said CEO David Gardner.

“This is a key strategic event for Infogrames that will benefit all of our shareholders. I believe that this transaction will generate significant benefits for the Group.”