Atari to acquire Night Dive Studios for $10M

Atari has entered into an agreement to acquire Night Dive Studios, the group responsible for the forthcoming System Shock remake, for an estimated sum of USD $10 million.

Night Dive, headed by industry experts Stephen Kick and Larry Kuperman, is a comprehensive game development and publishing company specialized in the restoration, enhancement, and distribution of classic video games. The studio has published over 100 titles and has received high praise for their releases of influential games that are loved by both the industry and fans alike, such as System Shock, Doom 64, and Quake.

One of Night Dive’s most eagerly anticipated retro releases for 2023 is a remastered version of the classic FPS game, System Shock. The game is currently up for pre-order on major gaming platforms such as GOG, Steam, and Epic Games Store.

“In addition, Atari, SA also announced that it intends to proceed in the near-term with a €30 million bond issue convertible into new shares of Atari (the “Convertible Bonds”) in order to meet with its capital needs in the context of the implementation of its new growth strategy and refinancing of its debt,” says the press release.

Wade Rosen, Chairman and CEO of Atari, said: “Night Dive’s proven expertise and successful track record in commercializing retro IP is well-aligned with Atari’s strategy and I am confident that their combined talent, technology and IP portfolio will contribute to Atari’s future success.”

[Source]: Atari (via Yahoo! News): Atari enters into an agreement to acquire Night Dive Studios and announces its intention to proceed with the issuance of €30 M bonds convertible into new Atari shares – [Archive] – [Screenshot].