Atari CEO makes offer to acquire games publisher amid financial struggles

Wade Rosen. Credit: Atari.

Atari CEO Wade Rosen has made a bid to acquire the company after it reported financial issues.

The company recently reported “a liquidity shortfall and additional financing requirements” in it’s half-year financial report, according to PC Gamer.

In a press release, Atari said that that a “friendly offer” had been “initiated to acquire control and increase the managing shareholder’s capacity to support the Company’s development ambitions”.

It continued that Atari’s CEO “intends to further strengthen his interest in Atari’s capital in order to support the Company with rolling out its transformation strategy”.

Wade Rosen. Credit: Press.

In Atari’s half-year financial report, published September 30, 2022, the company shared that “consolidated net income showed a loss of €5.4m for the period compared to a loss of €3.5m in H1 21/22”, citing “uncertain macro-environment” for games and the blockchain.

Speaking to NME ahead of the Atari’s 50th anniversary, Rosen recently spoke about how as a “pop culture brand… appearances in TV, movies, licensing etc, [Atari’s] never been stronger.”

He continued that the perception that games company no longer makes games, is something he’s keen to correct.

“Licensing is a big part of Atari, but we’re also focusing on making premium games for modern platforms.” replies Rosen, “[Scepticism] is understandable, but everybody at Atari today loves games – and they love making Atari games.

“We’re not trying to be anything that we’re not. We’re not trying to compete with companies that we can’t compete with… we’re just trying to make great Atari games.”

The post Atari CEO makes offer to acquire games publisher amid financial struggles appeared first on NME.