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Atari Divesture Complete

3rd October 2006, 5:46pm
Atari, Inc., a leader in interactive entertainment, today announced the completion of the Company's strategic internal studio divesture through the sale of Shiny Entertainment to Foundation 9 Entertainment. The operational streamlining and portfolio refocus was announced by Atari in early 2006.

'The sale of Shiny Entertainment completes the final phase of our strategic restructuring,' said David Pierce, President and Chief Executive Officer, Atari, Inc. 'We now have a centralized organization that can utilize external studio execution while maintaining internal focus on creative development and production.'

Atari will retain its current project planning formerly developed by Shiny, including Earthworm Jim. Financial terms of the agreement were not disclosed by the parties.
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by Nick Schaedel » Author's Blog