Atari SA (ENXTPA:ALATA) entered into an agreement to acquire Night Dive Studios, Inc. for $20 million on March 22, 2023. Under the terms of agreement, the purchase price of Night Dive will consist of an initial consideration of $10 million payable half in cash and half in Atari shares at the closing of the acquisition and an earn-out of up to $10 million, payable in cash over the next three years based on the future performance of Night Dive. Irata LLC intends to provide bridge financing to Atari for the payment of the initial consideration, of $5 million. For the fiscal year ended December 2022, Night Dive has reported revenue of approximately $3 million. The transaction is expected to be completed in April 2023. The acquisition has been approved unanimously by the disinterested members of the board of Atari. Charles de Reals, Arnaud Duhamel, Aude-Laurène Dourdain, Melinda Arsouze and Scott Logan of Gide Loyrette Nouel A.A.R.P.I. acted as legal advisor to Atari.

Atari SA (ENXTPA:ALATA) completed the acquisition of Night Dive Studios, Inc. May 15, 2023.