Atari Reaches Agreement to Acquire Majority Stake in Thunderful Group for $5.2 Million

Atari has signed a subscription agreement to purchase around 82% of Thunderful Group's shares for approximately $5.2 million. The deal was announced in a press release on July 29, with Atari's CEO, Wade Rosen, describing it as a significant step in the company's growth. The acquisition is contingent upon approval from Thunderful's shareholders, who are set to vote on the matter at an extraordinary general meeting scheduled for August 28, 2025. If approved, Atari will become the majority shareholder of Thunderful Group, which comprises several development studios and publishers, including Coatsink, Early Morning Studio, and Rising Star Games. This investment comes at a crucial time for Thunderful, which experienced a 14.5% decline in net revenue in Q2 2024 and underwent restructuring efforts. The company had also sold off several subsidiaries in the previous year. According to the press release, the agreement has received unanimous support from Thunderful's Board of Directors and two major shareholders, who collectively own 29.9% of the company.