Atari Announces Investment in Thunderful Group AB
Atari®, one of the most recognizable brands in the realm of consumer entertainment and interactive media, has revealed its intention to invest in Thunderful Group AB through a subscription agreement. This agreement, disclosed in Paris on July 29, 2025, will see Atari participating in a directed share issue valued at SEK 50 million, equating to approximately €4.5 million. Thunderful, which specializes in game development as well as third-party publishing and co-development services for PC and console platforms, is listed on Nasdaq First North Premier Growth Market in Sweden under the ticker THUNDR. The company boasts a diverse portfolio that includes over 20 intellectual properties, such as the popular games SteamWorld, ISLANDERS, Lost in Random, and Vampire’s Fall.
Significance of the Transaction
Wade Rosen, the Chairman and CEO of Atari, emphasized the importance of this transaction as a strategic milestone in Atari’s journey, particularly in enhancing its publishing and development capabilities within Europe. He commended Thunderful for its track record of publishing and developing critically successful games. Rosen expressed confidence in Thunderful’s transformation plan and the dedication of its teams, anticipating that this partnership will facilitate a return to profitable growth while bolstering Atari’s operations across Europe.
Details of the Transaction
The transaction will see Atari acquiring approximately 82% of Thunderful’s outstanding shares and voting rights through the issuance of 333,333,334 new ordinary shares at a subscription price of SEK 0.15 each, amounting to a total of SEK 50 million. This agreement is contingent upon approval from Thunderful’s shareholders at an extraordinary general meeting scheduled for around August 28, 2025. The proposal has garnered unanimous backing from Thunderful’s Board of Directors, as well as commitment from two of its largest existing shareholders, Owe Bergsten and Brjann Sigurgeirsson, who together hold a 29.9% stake in the company. They have pledged to support all proposals and resolutions put forth by the Board concerning this transaction.
Regulatory Approval and Financing
To facilitate this acquisition without necessitating a mandatory bid for the remaining shares under Swedish takeover regulations, Atari has received an exemption from the Swedish Securities Council. If the transaction is ratified, Atari plans to finance it using its own resources or potentially through a new loan agreement with IRATA LLC, which is the holding company of Wade Rosen.
About Thunderful Group AB
Thunderful Group AB operates within the gaming industry, focusing on publishing and developing high-quality digital games primarily for PC and console platforms. Based in Gothenburg, Sweden, the company encompasses a wide array of game industry services through its two main segments: Publishing and Co-Development & Services. In the fiscal year ending December 31, 2024, Thunderful reported revenues of SEK 292 million, or about €25 million. The company is also undertaking a restructuring initiative aimed at optimizing its publishing and development operations to reduce costs and enhance cash flow.
About Atari
Atari stands as a historic name in the gaming industry, known for its interactive entertainment offerings that appeal to audiences across generations. The company is recognized globally for its extensive portfolio of over 400 games and franchises, featuring iconic titles such as Asteroids®, Centipede®, Missile Command®, Pong®, and RollerCoaster Tycoon®. With offices in both New York and Paris, Atari’s shares are traded on Euronext Growth Paris and OTC Pink Current.
Disclaimer
This press release includes forward-looking statements that are based on current expectations and assumptions of Atari’s management team. These statements carry inherent uncertainties and risks that could lead to significant deviations from anticipated outcomes. Atari, along with its stakeholders, makes no representations regarding the accuracy of the statistical or forward-looking information included, which may have been sourced from third-party publications. This information is provided for informational purposes only.
