Atari SA
 | |
| Company type | Public (Euronext: ATA) |
|---|---|
| ISIN | FR0010478248 US4659401040  |
| Industry | Software & programming |
| Founded | June 1983 (as Infogrames Entertainment, SA) |
| Headquarters | , |
Key people | Frédéric Chesnais (Chairman and CEO) Laurence Betito (CFO) Denis Bunma (Legal counsel) |
| Products | Centipede: Infestation Dungeons & Dragons: Daggerdale Neverwinter Nights Yars' Revenge Test Drive Unlimited 2 |
| Revenue |  €7.6 million (2014-15) |
| €1.5 million (2014-15) | |
| €1.2 million (2014-15) | |
| Total assets | €8.8 million (2014-15) |
| Total equity | €-13.3 million (2014-15)[1] |
| Subsidiaries | Atari, Inc., Atari Interactive |
| Website | www.atari.com |
Atari, SA (ASA) is an international French holding company headquartered in Paris, France. It was originally called Infogrames Entertainment, SA (IESA). Its subsidiaries include Atari London Studio, Atari Interactive and Atari, Inc..[2] Because of continuing pressures upon the company, and difficulty finding investors, it sought bankruptcy protection under French law in January 2013; its subsidiaries in the United States have sought Chapter 11 bankruptcy protection there as well.[3] All three subsidiaries have since exited bankruptcy, and are all going through a vigorous turnaround campaign.
Transition from Infogrames Entertainment
During their fiscal year meeting (May 2009), IESA announced that it would be changing its corporate name to an Atari-branded name, in line with the use of the name for its subsidiaries. In reference to this, Atari, Inc.'s CEO Jim Wilson said: "We've gotten rid of the Infogrames and Atari duality, the confusion around that. We are one simplified company, under one management team, under one brand."[4]
Infogrames' May 29 earnings report stated:
The Board agreed to change Infogrames Entertainment’s name to Atari. This decision will enable us to make the best use of the Atari brand, capitalizing on worldwide strong name recognition and affinity, which are keys drivers to implement the Company’s online, product and licensing strategies.[5]
A later July 24 earnings press release further clarified a name change from the May 29 report, with a change from Infogrames Entertainment, SA to Atari, SA It additionally stated the continued use of Atari Group for its Atari-branded and related subsidiaries.[6]
On April 19, 2010, Atari, SA announced Nolan Bushnell along with Tim Virden would join the company's Board of Directors.[7]
As of March 31, 2011, the Board of Directors consisted of Frank Dangeard, Jim Wilson, Tom Virden, Gene Davis, Alexandra Fichelson.[8]
Jim Wilson (COO)[8]
As of August 2014, the Board of Directors consisted of Frédéric Chesnais (chairman), Frank Dangeard, Tom Virden, Erik Euvrard, and Alyssa Padia Walles.[9]
BlueBay restructuring
On October 21, 2010, Atari announced Atari's reference shareholders BlueBay Value Recovery (Master) Fund Limited and BlueBay Multi-Strategy (Master) Fund Limited are exploring a disposal of the shares and equity-linked instruments held by them.[10] However, BlueBay shareholders later interrupted the sale process of its holding in Atari.[11] BlueBay later converted the conversion of a portion of the ORANEs held by them.[12]
In 2012, Atari, SA, BlueBay Value Recovery (Master) Fund Limited, and The BlueBay Multi-Strategy (Master) Fund Limited reached an agreement following their negotiations regarding the restructuring of the debt and capital structure of the Atari group. As part of the agreement, the €20.9 million Credit Facility Agreement was extinguished via €10.9 million loan forgiveness from BlueBay Value Recovery (Master) Fund Limited and Atari's payment of €10 million; the cancellation of the dilutive effect of the ORANEs held by BlueBay; €20 million capital increases to be submitted to the vote of Atari shareholders (of which €10 million with preferential subscription right).[13]
Bankruptcy
On January 21, 2013, Atari, Inc., Atari Interactive, Inc., Humongous, Inc. and California US Holdings, Inc. (collectively, the "Companies") filed petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.[14] All three Ataris emerged from bankruptcy one year later and the entering of the social casino gaming industry with Atari Casino.[15] Frédéric Chesnais, who now heads all three companies, stated their entire operations consist of a staff of 10 people.[16]
Turnaround strategy
In 2015, Atari announced a turnaround strategy that would focus on re-releasing the catalog of Atari games. The strategy is focused on " download games, MMO games, mobile games and licensing activities, based in priority around traditional franchises."
Projects currently in production or included in the turnaround strategy include:
- Alone in the Dark: Illumination for PC (solo or multiplayer action and adventure game), in which players face off against Eldricht’s hordes using supernatural illumination powers to defend themselves, survive and complete the adventure.
- RollerCoaster Tycoon World for PC (offline or online, solo or multiplayer game), enabling players to create original theme parks with incredible attractions. This is the follow-up to RollerCoaster Tycoon 3 for PC.
- Pridefest, an LGBT-friendly mobile social simulation game, enabling players to manage their cities and design their own parades, while creating a network of friends.
- Lunar Lander for mobile, the famous lunar landing simulation game that helped build ATARI’s success in the past in the arcade game sector and will now delight nostalgic fans of the franchise on smartphones and tablets.[1]
Business strategy
Atari's overall strategy has four main focuses:
- Continuing to move forward with the business recovery and turnaround plan;
- Capitalizing on the Atari brand and the intellectual property portfolio thanks to strategic partnership and licensing activities;
- Limiting the risks involved by focusing on partnerships: Atari will be looking into commercial partnerships on a case-by-case basis with a view to maximizing the benefits of its vast intellectual property portfolio, its brand and all its assets;
- Limiting operating expenditure and striving to improve profitability: Atari will continue to ensure strict control over investments and costs.[1]
References
- ^ a b c Atari, SA Annual Report 2014-2015 (PDF)
- ^ "Anthony Jacobson and Pierre Hintze Hire Release FINAL" (Press release). Atari. October 7, 2009. Archived from the original (PDF) on November 12, 2010. Retrieved June 28, 2012.
- ^ "Nocookies". The Australian.
- ^ http://www.1up.com/do/newsStory?cId=3174457
- ^ http://corporate.atari.com/MT-3.34-en/mt-static/FCKeditor/UserFiles/File/052909PR_FY09_earnings_GB_FINAL2.pdf p. 2
- ^ http://corporate.atari.com/MT-3.34-en/mt-static/FCKeditor/UserFiles/File/D2-072409PR_FY09_1Q_revenues_GB_FINAL.pdf
- ^ Nolan Bushnell, Tom Virden, Join Atari Board of Directors, That Gaming Site, 19 April 2010
- ^ a b Atari, SA Annual Report 2010-2011 (PDF)
- ^ "Atari, SA Corporate Governance". Atari. Retrieved August 15, 2014.
- ^ Reuters Editorial (21 October 2010). "Atari: Proposed transfer by BlueBay of its holding in ATARI". Reuters.
{{cite web}}:|author=has generic name (help) - ^ Reuters Editorial (31 January 2011). "BlueBay to interrupt the sale process of its holding in Atari". Reuters.
{{cite web}}:|author=has generic name (help) - ^ 1ST HALF OF FY 2011/2012 RESULTS Unaudited preliminary data – Ongoing audit process Approved by the Board of Directors on November 4, 2011.
- ^ Atari, SA and BlueBay reached a agreement for the restructuring of the debt and capital structure of the group
- ^ "Atari Files For Chapter 11 To Separate From French Parent". Prnewswire.com. Retrieved September 4, 2013.
- ^ Brett Molina (March 26, 2014). "Atari resets with jump into social casino gaming". USA Today. Retrieved March 26, 2014.
- ^ "Atari and FlowPlay team up to offer social casino games - GamesBeat - Games - by Dean Takahashi". VentureBeat.