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DVG: Video Game Reviews & Cheats Developer and Publisher Forums Atari


Atari Sells Humongous Entertainment Studio

 
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Barry
Mr. Do It All


Aug 26, 2005, 11:43 PM

Post #1 of 1 (702 views)
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Atari Sells Humongous Entertainment Studio Can't Post
Atari announced the sale of its Humongous Entertainment studio to Infogrames Entertainment SA ("IESA"), the Company's majority stockholder, for approximately $10.3 million.

The Humongous assets consist primarily of intellectual property, existing inventory and license rights. Approximately $2 million of the purchase price represents pre-payment of certain future costs Atari will incur related to platform royalty advances, manufacturing costs and milestone payments. Additionally, Atari has been granted exclusive distribution rights for Humongous products in the U.S., Canada and Mexico through at least March 31, 2006.

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