Atari has announced its plans to acquire System Shock remake developer Nightdive Studios for $10 million.
As revealed by Yahoo! Finance, Atari plans to acquire 100% of Nightdive Studios - which is primarily known for working on the System Shock, Doom 64, and Quake remakes - with the deal set to be completed in April 2023.
The deal will cost Atari $10 million, half of which in cash and the other half in Atari shares at the closing of the acquisition. Alongside this, Yahoo! reports Nightdive will also gain "an earn-out of up to $10 million, payable in cash over the next three years based on the future performance of Nightdive."
The report suggests that part of Atari's plans with Nightdive is to make use of the studio's proprietary KEX engine that makes classic games playable on modern hardware and enhances/improves the original for modern players. The acquisition will apparently allow Atari to "enrich its large library of owned IP, be able to leverage Night Dive’s proprietary technology, and utilize Night Dive’s publishing capabilities to support Atari’s retro-focused growth strategy."
Speaking about the proposed agreement, Wade Rosen - chairman and CEO of Atari - said: "Night Dive’s proven expertise and successful track record in commercializing retro IP is well-aligned with Atari’s strategy and I am confident that their combined talent, technology, and IP portfolio will contribute to Atari’s future success."
Nightdive CEO Stephen Kick and director of business development Larry Kuperman also spoke of the deal, adding: "Night Dive and Atari have a long history together and we know that Atari shares our passion for retro games and our focus on producing high-quality new and remastered games that do justice to the original IP. As we look to grow our business and expand our capabilities, we could think of no better long-term partner than Atari."
The System Shock remake is expected to release on May 30, 2023 - while we wait for that, find out what else we've got to look forward to with our new games 2023 list.
