Infogrames Looking to Buy Out Atari Stock

Atari’s restructuring from a developing to a publishing house seems to have been helping the floundering studio. This is recognized by majority owner Infogrames, who now wish to buy the company whole.

Atari Inc has announced that it received a letter from Infogrames Entertainment SA, the company’s majority shareholder, expressing its intent to acquire the remaining outstanding stock of the company.

Infogrames’ offer, which is non-binding, amounts to USD 1.68 per share for the Atari Inc stock it does not own.

Atari Inc said that a special committee of the company’s board of directors intends to undertake, together with its advisors, a thorough evaluation of the proposal.

There is no assurance that any transaction will occur or to the terms of any transaction.

The Infogrames business is currently in the midst of a resurgence lead by the vision of new CEO David Gardner.

Gardner has placed great value on the Atari brand, and intends to rebuild the struggling company as a destination for online gaming.