Thunderful AB, the parent company for Thunderful's development and publishing divisions, has issued a package of shares that has acquired Atari for SEK 50 million (about EUR 4.5 million). The acquisition will give Atari de facto control of the company, controlling 82.6% of the shares.
Thunderful thus joins the resurgent Atari as it seeks to return to being a major player in today's video game industry. Thunderful's portfolio includes some twenty intellectual properties, including Steamworld, Islanders, Lost in Random, and Vampire's Fall.
They also have five in-house development studios that are also part of Atari's staff. However, that's not exactly encouraging right now, as the official statement specifies that "Thunderful also announced today a restructuring plan aimed at reorganising its publishing and development operations, with a view to reducing its cost base and improving operating cash flow." Removing the corporate-speak, that means layoffs and maybe even the closure of some of those internal studios.
The Transaction is subject to approval by Thunderful's shareholders at an extraordinary general meeting (the "EGM") to be held on or around 28 August 2025 (the "EGM"), although there is already an absolute majority.