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Infogrames and Atari Announce Merger AgreementTaking a look at the business side of things today, Infogrames has announced that they will be acquiring the remaining equity interest in fellow game publisher Atari for $11 million US. According Infogrames' board of directors, this acquisition will strengthen their US distribution capabilities and "global online initiatives." Here's a little snippet from the press release:
"Bringing Atari US and Infogrames businesses together will enable us to create a simplified global structure for our business as we seek to re-build a well-managed, cohesive and financially disciplined company. This is a key strategic event for Infogrames that will benefit all of our shareholders. I believe that this transaction will generate significant benefits for the Group." In addition to this acquisition, Infogrames has agreed to lend Atari $20 million US to fund operational costs until the merger closes later this year.
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