Atari to Acquire Thunderful Group

Mergers and Acquisitions

30 July 2025 10:24

Atari is set to significantly expand its gaming portfolio through a proposed majority acquisition of Sweden-based Thunderful Group, in a deal valued at approximately $5.2 million USD. The agreement, announced on July 29 via a press release on Global News Wire, would see Atari take control of around 82% of Thunderful’s shares.

The acquisition remains contingent on approval from Thunderful shareholders, who are expected to vote during an extraordinary general meeting scheduled for August 28, 2025.

Wade Rosen, Chairman and CEO of Atari SA, described the pending acquisition as a defining moment in the company's strategic evolution:

"This transaction is another important milestone in Atari’s development."

If approved, the deal would make Atari the dominant stakeholder in a company that owns a collection of well-known game studios, including Coatsink, Studio Fizbin, Early Morning Studio, Thunderful Development, and To The Sky. Thunderful’s publishing assets—Rising Star Games and Thunderful Publishing—are also included in the acquisition.

The timing of the deal could provide a lifeline for Thunderful, which has been navigating a difficult financial period. The company reported a 14.5% year-over-year drop in net revenue for Q2 2024 and implemented two separate restructuring programs within that year. In an effort to stabilize, Thunderful offloaded non-core assets, including Headup Games, its distribution divisions, and Nordic Game Supply.

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Tags: Atari

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