Atari US files for bankruptcy, selling iconic logo and assets
Atari Inc. filed for chapter 11 (restructuring) bankruptcy this morning, as it aimed to detach itself from Atari SA, its French parent company, and acquire independent business. Atari Inc. said it plans to sell all of its assets in the next 90 to 120 days, including defining franchises such as Pong and Asteroids, and even its iconic logo. The company has already secured, pending approval, $5.25 million in debtor-in-possession investment from funds managed by investment advisory Tenor Capital Management.
While Atari boasts a 40 year history, and is tied closely to the pioneering years of the arcade, its name has meant a number of different things across that time thanks to several changes of hands. The US-based company now called Atari. Inc was GT Interactive when it was founded in 1993. GT Interactive then became Infogrames Inc. in 1999 after French company Infogrames Entertainment acquired controlling interest in it. In 2001, Inforgrames Entertainment bought Hasbro Interactive, who had acquired Atari Corporation and its Atari properties three years prior. In 2003, Infogrames Inc. became Atari Inc, now with license to use the Atari name and logo, and in 2008 Infogrames Entertainment completely acquired the company. Then, just to confuse everything that one step further, Infogrames Entertainment renamed itself as Atari, SA in 2009.Continue reading Atari US files for bankruptcy, selling iconic logo and assetsAtari US files for bankruptcy, selling iconic logo and assets originally appeared on Joystiq on Mon, 21 Jan 2013 08:45:00 EST. Please see our terms for use of feeds.
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