Atari Acquires Night Dive Studios

Atari entered into an agreement to acquire 100% of Night Dive Studios Inc., a Vancouver, Washington-based game development and publishing studio, for an initial consideration of US$10 million (half cash, half Atari shares) plus an earn-out of up to US$10 million. Atari also announced plans to issue €30 million in convertible bonds to support the acquisition, refinance debt and fund growth initiatives, while Irata LLC agreed to provide bridge financing for the initial consideration.