Atarihas announced an acquisition deal worth more than $5 million that will make it the primary shareholder of Thunderful Group AB, a Swedish video game holding company currently operating with five development studios and a couple of publishers to boot. This business move will giveAtaridominion over some popular games and franchises, including theLost in Randomseries and theSteamWorldanthology.
Thunderful was originally founded in 2017 as the parent company of two independent game developers, Zoink and Image & Form. Zoink got its start in 2010 with a couple of games on the Nintendo Wii,The Kore GangandWeeWaa, but its biggest hit has been 2021’sdice-based combat action-adventure gameLost in Random. Image & Form has been around a lot longer, having been founded in 1997, and while its early days were rooted in web-based gaming, it hit its stride in 2010 with the release ofSteamWorld Tower Defense.
A new announcement from Atari states that the corporation has entered into a subscription agreement with Thunderful that would result in the acquisition of 82 percent of its outstanding shares at a price tag of 50 million Swedish krona, which equates to around $5.17 million USD. Thunderful’s shareholders will have to approve the acquisition at a meeting that is planned for late August, and Atari chair and CEO Wade Rosen indicates the business deal is intended to help the company expand its influence in the European gaming market. This deal would mark another big business move for Rosen, who also held his position duringAtari’s acquisition of ’80s-era competitor Intellivisionin 2024.
Atari is Poised to Acquire Some Popular Video Game IPs
If the business deal goes through successfully, it will result in Atari acquiring 20 different video game intellectual properties, with the most prominent names on the list includingLost in Random, Coatsink’s minimalist city builderIslanders, Early Morning Studio’s RPG franchiseVampire’s Fall, and the multi-genreSteamWorldfranchise. Of that select list,Lost in Randomis making the biggest waves in the industry right now, with the recentrelease ofLost in Random: The Eternal Dieon June 17. The game holds a very positive rating on Steam, with an 86 percent approval rating among its user reviews, and its inclusion as a day-one release on Xbox Game Pass has likely increased the series' visibility.
The acquisition is planned to result in some restructuring within Thunderful, which will be aimed at increasing cash flow and reorganizing the development and publishing operations. Though not as prominent as some other major game companies, Atari has been making business moves over the past few years to expand its base. Last year, less than a month following its deal with Intellivsion,Atari acquired tinyBuild’sSurgeon Simulatorseriesthrough its Infogrames publishing label, and it has also been active in releasing modern consoles compatible with its retro game catalog.
