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Atari enters agreement to acquire Nightdive Studios

The purchase agreement comes just two months before Nightdive Studios is set to release its System Shock remake.
Sam Chandler
Sam Chandler
Atari
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Atari has announced an agreement to acquire Nightdive Studios in a deal potentially worth $20 million. Both companies have a history of work in the retro game and video game preservation arena, which makes this acquisition a logical one.

nightdive logo, white text on black background with a tentactle circling a diving helmet

Source: Nightdive Studios

Atari announced on March 22, 2023 that it has entered in to an agreement for the acquisition of Nightdive Studios. The purchase of Nightdive will involve a few instances of payment. An initial consideration of $10 million USD will be payable half in cash and the other half in Atari shares at the closing of the acquisition. The Yahoo Finance story notes that there is “an earn-out of up to $10 million USD, payable over the next three years based on the future performance of Nightdive.” This indicates that the acquisition could be as little as $10 million with a potential to reach $20 million. Atari is also set to issue €30 million bonds convertible into new Atari shares.

Atari’s acquisition of Nightdive further continues the company’s focus on retro games. “Nightdive’s proven expertise and successful track record in commercializing retro IP is well-aligned with Atari’s strategy,” said Wade Rosen, Chairman and CEO of Atari. “I am confident that their combined talent, technology and IP portfolio will contribute to Atari’s future success.”

Nightdive is known for its work in bringing retro games to a modern audience. The company has a wealth of published titles and has its KEX engine, a proprietary tool, which enables it to redevelop retro games and have them work on modern systems. Its upcoming remake of System Shock is eagerly anticipated.

Head of Guides
Head of Guides

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as Head of Guides. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can message him on X: @SamuelChandler 

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