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PARIS, FRANCE (March 22, 2023 – 11.00 pm CET) – Atari® (the « Company ») – one of the world’s most iconic consumer brands and interactive entertainment producers – announced that it has entered into an agreement to acquire 100% of Night Dive Studios Inc. (« Night Dive »), a full service game development and publishing company based in Vancouver, Washington, USA. Industry sources say writers and producers who might have been making less than $20,000 an episode a few years ago are now able to command loftier job titles and fees closer to $40,000-$50,000 or more. Night Dive has published over 100 titles and has garnered critical acclaim for their releases of seminal industry and fan-favorite titles including System Shock, Doom 64, and Quake. The studio’s reputation and deep industry knowledge have made them a go-to partner for some of the largest names in gaming and media and allowed them to develop a diversified portfolio of titles. You have to stop participating in your sport or significantly cut back on your physical activity because of the pain.
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With this acquisition Atari will enrich its large library of owned IP, be able to leverage Night Dive’s proprietary technology, and utilize Night Dive’s publishing capabilities to support Atari’s retro-focused growth strategy. The purchase price of Night Dive will consist of (i) an initial consideration of US$10 million payable half in cash and half in Atari shares at the closing of the acquisition (see below) plus (ii) 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. The calculation of the number of Atari shares to be issued will be based on the 20-day volume weighted average price of Atari shares on Euronext Growth prior to the tenth day prior to the closing of the transaction. The initial consideration will be paid half in cash (for US$5 million) and half in newly issued Atari ordinary shares (for US$5 million)4. What is the cash value of refactoring the code to allow for easier extension in the future? Stephen Kick and Larry Kuperman, principals of Night Dive commented: « Night Dive and Atari have a long history together and we know that Atari shares our passion for retro games and our focus on producing high-quality new and remastered games that do justice to the original IP.