Atari is making headlines with its €4.5 million move to acquire an 82.6% stake in Sweden’s Thunderful Group, a renowned publisher responsible for hits like Islanders, Lost in Random, and the SteamWorld series. This strategic partnership, revealed on GlobeNewswire, involves Atari investing through a directed share issue of 333,333,334 new shares at SEK 0.15 each, totaling around €4.5 million.
With this acquisition, Atari secures a majority ownership, buoyed by unanimous backing from Thunderful’s board members and key shareholders Brjann Sigurgeirsson and Owe Bergsten, who control 29.9% of the company’s voting power.
Atari’s CEO, Wade Rosen, hailed the move as a significant milestone for the company, enhancing its publishing and development prowess in Europe. He applauded Thunderful’s reputation for creating critically acclaimed games and expressed confidence in the company’s profitable future.
In 2024, Thunderful reported a revenue of SEK 292 million (€25 million). The company manages five development studios and owns over 20 intellectual properties, including the popular SteamWorld and Lost in Random series. Despite their robust portfolio, Thunderful has faced financial challenges with weaker sales from newer titles and has reduced its workforce by 20%.
Looking ahead, Thunderful plans to cut costs between SEK 6 to 8 million in late 2025 and SEK 40 to 45 million in 2026, which may lead to further layoffs. As part of this restructuring, CEO Martin Walfisz will step down by the end of 2025.
Meanwhile, Atari is thriving with a substantial revenue boost of 63% in 2025, reaching €33.6 million. The company is focusing on expanding its presence in PC and console gaming, with exciting projects like Mortal Kombat: Legacy Kollection and a special remaster of System Shock 2 on the horizon.
