(ITnews) - (Hugin) -
Lione, Francia, e New York, New York- 9 ottobre 2008 - Infogrames Entertainment S.A. (Euronext - ISIN: FR0010478248) ("Infogrames") ha annunciato oggi di aver perfezionato l'acquisizione di Atari, Inc. ("Atari").
Atari è oggi una controllata al 100% di Infogrames.
Prima del completamento dell'acquisizione, Infogrames deteneva circa il 51,4% di Atari. In base all'accordo di fusione definitivo siglato il 30 aprile 2008 il corrispettivo versato da Infogrames è di 1,68 dollari USA per azione per tutte le azioni ordinarie Atari in circolazione non detenute da Infogrames e le sue collegate.
The approximately $11 million aggregate consideration for the shares not owned by Infogrames is being funded by Infogrames from existing cash resources.
The existing management of Atari, Inc., led by recently appointed President and CEO Jim Wilson, Tim Flynn (Senior Vice President of Sales), and Jeff Reese (Vice President of Marketing) has joined the Infogrames group, and will focus on growing the key North American gaming market.
The completion of this merger, which will lead to the creation of a simplified global structure, is key to the implementation of Infogrames' strategy as it is anticipated it will:
- reduce General and Administrative expenses, including costs related to being a US public company, and generate economies of scale ;
- provide greater opportunities to develop the US distribution business and find new partnerships ; and
- strengthen the US online platform to develop online operations.
Recent major restructuring actions implemented earlier this year have already contributed to increased revenues and profitability at Atari, Inc. Revenues for the first quarter ended June 30, 2008 almost tripled versus the same period the year before, and for the first time since the third quarter of fiscal year 2005, the quarter was profitable for US operations.
Commenting on today's announcement, David Gardner, CEO of Infogrames, said: "The completion of this merger is an important step in the implementation of our strategy. Reshaping US operations was a key element of our "Atari transformation" plan. Profitable first quarter results were reached thanks to the tremendous work accomplished by Jim and his team. The completion of the merger creates a simplified efficient global structure that we anticipate will generate greater opportunities to expand US distribution capabilities and strengthen our platform for global online initiatives."
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About Infogrames Entertainment and Atari:
The Infogrames group, including the Atari brand, is a global producer, publisher and distributor of interactive entertainment software for all market segments and all interactive game platforms including consoles from Microsoft, Nintendo and Sony, advanced smartphones, Personal Computers, web and online. Its games are sold in more than 60 countries through an international distribution network and direct to consumers via
www.atari.com.
Atari's extensive catalogue of popular games is based on original franchises (Alone in the Dark, Test Drive, V-Rally, My Horse & Me, Backyard Sports franchise, Total Annihilation, Outcast etc.), publishing properties (The Witcher, Legendary, Race Pro etc.), international licenses (Dragon Ball Z, Dungeons & Dragons, Jamie Oliver etc.) and classic games covering the entire history of the video game industry (Pong, Missile Command, Asteroids etc).
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