Atari has reached an agreement to purchase Thunderful Group for $5.2 million

Atari has announced a subscription agreement to acquire about 82% of Swedish game company Thunderful Group's shares for an amount of SEK 50 million, which is approximately $5.2 million.

On July 29, Atari disclosed this development in a press release via Global News Wire, with Wade Rosen, the company's chairman and CEO, describing the acquisition as a significant step in Atari's evolution.

The deal is pending approval from Thunderful's shareholders, who will convene at an "extraordinary general meeting" expected to take place around August 28, 2025, to cast their votes.

Approval of this agreement would see Atari becoming the primary shareholder of the Thunderful Group, which includes game studios like Coatsink, Early Morning Studio, Studio Fizbin, Thunderful Development, and To The Sky, alongside publishers Rising Star Games and Thunderful Publishing.

The timing of Atari's investment is fortuitous for Thunderful, which experienced a 14.5% decrease in net revenue year-over-year in Q2 2024 and was subject to two restructuring efforts that same year.

Previously, Thunderful divested several subsidiaries, including Headup Games, all its distribution ventures, and Nordic Game Supply.

The agreement has received "unanimous support" from Thunderful’s Board of Directors and its two major shareholders, who collectively hold a 29.9% stake, namely Bergsala founder Owe Bergsten and Brjann Sigurgeirsson, the company's co-founder and former CEO.

Sigurgeirsson stepped down from his CEO position in 2022 following Thunderful's $2 million net loss in the first half of that year, transitioning to a franchise director role for SteamWorld. He quietly left the company in 2024, as noted in his LinkedIn post.