Well that is certainly unexpected news. Atari has entered into an agreement to buy up Night Dive Studios. Night Dive Studios are responsible for the upcoming System Shock remake, Forsaken Remastered, Turok and Turok 2 remasters, Blood Fresh Supply, Quake remaster and many more.
Atari already owned a minority stake in Night Dive and they will now have 100%.
From the press release:
Wade Rosen, Chairman and CEO of Atari, commented: “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.”
Stephen Kick and Larry Kuperman, principals of Night Dive commented: “Night Dive and Atari have a long history together and we know that Atari shares our passion for retro games and our focus on producing high-quality new and remastered games that do justice to the original IP. As we look to grow our business and expand our capabilities, we could think of no better long-term partner than Atari.”
According to Yahoo Finance, Night Dive Studios reported a revenue of $3 million USD for 2022, and Atari will acquire them for an initial $10 million USD half in cash and half in Atari shares, plus an "earn-out" of up to $10 million USD in cash over the next three years based on Night Dive's performance. This means if Night Dive do well, they'll get more money.
The acquisition is expected to be completed in April 2023.