Legacy video game brand Atari has embarked on a significant journey by entering into an agreement to acquire the European firm Thunderful Group. This strategic move is executed through a directed share issue valued at SEK 50 million (approximately .1 million), granting Atari control over 82 percent of Thunderful’s outstanding shares. The board of Thunderful has expressed its approval of this transaction.
Expansion and Transformation
Wade Rosen, CEO and chair of Atari, emphasized the importance of this acquisition, stating, “This transaction marks another important milestone in Atari’s development with the expansion of its publishing and development capabilities in the European region.” He acknowledged Thunderful’s reputation for publishing and developing critically acclaimed games, expressing confidence in the company’s transformation plan and the dedication of its teams. Rosen believes that Thunderful is poised to return to a profitable growth trajectory while simultaneously enhancing Atari’s operations in Europe.
In conjunction with the acquisition announcement, Thunderful has initiated a restructuring operation aimed at achieving cost savings between SEK 6 million (5,700) and SEK 8 million (1,000) for the latter half of the 2025 financial year. Additionally, the company targets savings of SEK 40 to 45 million (.1 to .6 million) during 2026. While this restructuring will involve job cuts, specific details regarding the number of affected employees have not been disclosed. Notably, this marks the third round of restructuring Thunderful has undertaken in recent years.
Leadership Changes
As part of this transition, CEO Martin Walfisz will step down from his position at Thunderful. Having taken the helm in August 2021, Walfisz’s tenure has been marked by challenges that neither he nor the board anticipated. Thunderful chairman Patrick Svensk acknowledged Walfisz’s efforts, stating, “With the restructuring announced today, Thunderful is entering a new phase, and it is also an appropriate time for a change in leadership.” Svensk expressed gratitude for Walfisz’s determination and hard work during a tumultuous period, wishing him the best in future endeavors.
