The iconic video game company Atari is gradually coming out of a turnaround, CEO Wade Rosen tells Axios.
: “There is still a lot of cleanup and turnaround is always relatively painful,” Rosen says. “And so we were still feeling some of that.”“I view 2023 as the opportunity to do interesting, innovative, genre-moving things, specifically in the innovative retro space,” he says.Nightdive, which specializes in remakes and remasters of classic games from the 1990s, is already profitable, Rosen notes.
Atari bought the studio for $10 million in cash and stock with future potential earn-outs. Rosen had previously invested in the company and served on its board before joining Atari. Berzerk and another game, Frenzy, were purchased for an undisclosed sum from pinball entrepreneur Gary Stern, to grant Atari more options to remake and reissue the classic game, Rosen says.
Being “selectively active" with mergers and acquisitions is “part of Atari’s future,” Rosen says. “I would view Nightdive as the first of hopefully a larger inorganic push for the company, all really based around that innovative retro ethos.”Atari’s acquisitions come amid a flurry of projects, including a line of reimagined versions of classics like
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