14 DAY TRIAL // As one takeover saga seems close to ending in failure (and we mean that Electronic Arts is unlikely to get a controlling share in Take Two after the very successful release of GTA IV), another one has ended in success. Infogrames, based in France, has managed to acquire all outstanding stock of Atari Inc., the American company that is the last inheritor of the once vast Atari legacy.
Current CEO of Atari, Jim Wilson, will be part of Infogrames' board and will also head the American operations of the firm. Atari will get a loan of 20 million dollars to keep it going until the takeover is complete. David Gardner of Infogrames hopes that with new leadership and a more streamlined internal structure Atari can become profitable again and return to creating groundbreaking new videogames.
David Gardner, Chief Executive Officer at Infogrames, stated that "Bringing Atari U.S. and Infogrames businesses together will enable us to create a simplified global structure for our business as we seek to rebuild a well-managed, cohesive and financially disciplined company. This is a key strategic event for Infogrames that will benefit all of our shareholders. I believe that this transaction will generate significant benefits for the group".
Jim Wilson, Chief Executive Officer of Atari, also declared that "By joining Infogrames, we will have the opportunity to further transform Atari. As part of this newly integrated company, we will be better able to streamline operations and have a stronger platform for growth in North America."
Now the main question that remains, apart from the obvious ones regarding success and company profitability, is whether Infogrames would really go ahead and change its name into Atari International. As far as the videogames industry is concerned, that name is a bit cursed.