Atari Has Entered An Agreement To Acquire Nightdive Studios

1 year ago 103

Atari has announced plans to acquire Nightdive Studios, the developer of the upcoming System Shock remake. The studio has built itself a reputation for strong retro remakes, with its other releases including the Doom 64 and Quake re-releases.

Nightdive CEO Stephen Kick shared the news on his Twitter, saying he is "very proud [to join] forces with Atari to continue resurrecting the games we love." The Nightdive account also shared the announcement, calling the acquisition a "big win" for the studio.

This is a big win for our team! As we look to continue producing high-quality, new, and remastered games that do justice to the original IP; we could think of no better long-term partner than @atari https://t.co/icK4zbQBe2

— Nightdive Studios (@NightdiveStudio) March 23, 2023

Yahoo Finance reports that the purchase price will consist of "an initial consideration of US$10 million," along with "an earn-out of up to US$10 million, payable in cash over the next three years based on the future performance of Night Dive." Atari's CEO and chairman Wade Rosen already owned a minority stake of 13% in Nightdive Studios.

While no longer the industry powerhouse it used to be, Atari is still active in the retro games sector. It has dabbled in hardware releases, including the VCS console, but has seen the most luck with digital re-releases such as the Atari 50 anniversary collection.

With the acquisition, Atari will gain control of Nightdive's full library of games, as well as access to its proprietary KEX Engine, which is used to make retro games playable on newer machines. Atari also plans to use Nightdive's publishing capabilities to support its own "retro-focused growth strategy."

The acquisition is expected to be completed in April this year.

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