NEW YORK, May 10 /PRNewswire-FirstCall/ -- Atari, Inc. (Nasdaq: ATAR) a
leader in interactive entertainment, today announced that it has raised $13
million through the divestiture of certain non-core assets -- TimeShift and
Stuntman. The sale of these intellectual properties is inline with the
Company's previously stated plans to divest assets which it feels are not
core to Atari's business strategy.
"Atari is focused on streamlining its portfolio of assets while at the
same time investing in new IP which fits with our next-gen strategy," said
Atari, Inc. Chief Executive Officer Bruno Bonnell. "The next-generation of
video game consoles and portable devices, as well as the expansion of
online services, provides Atari with a unique opportunity to capitalize on
one of the most recognizable brands in the world. We will nurture the
catalog of Classic Atari games and powerful franchises, acquire the rights
to established properties and invest in the creation of new, unique and
exciting titles. As evident by our recent announcements of BattleZone for
the PSP; Alone in the Dark for XBOX 360 and PS3; the acquisition of the
rights for Earthworm Jim and Arthur and the Minimoys; and the creation of
HOT PXL for PSP, Atari continues to be at the forefront of innovation in
the interactive entertainment industry."
The Company will showcase 11 of its new titles during the Electronic
Entertainment Expo (E3), the video game industry's largest trade show and
exhibition, in Los Angeles, May 10-12. The Company's titles range in genres
and are from some of the world's best-known franchises including Dragon
Ball Z(R), Earthworm Jim, Test Drive(R) Unlimited, Alone in the Dark, and
DUNGEONS & DRAGONS(R). The Company is charging forward with a robust
line-up of next- generation console and handheld games with a focus on
innovative and compelling gameplay. The Atari booth is located at Petree
Hall #4003.
About Atari
New York-based Atari, Inc. (Nasdaq: ATAR) develops interactive games
for all platforms and is one of the largest third-party publishers of
interactive entertainment software in the U.S. The Company's 1,000+ titles
include hard- core, genre-defining franchises such as DRIVER(TM), The
Matrix(TM) (Enter The Matrix and The Matrix: Path of Neo) and Test
Drive(R); and mass-market and children's franchises such as Nickelodeon's
Blue's Clues(TM) and Dora the Explorer(TM), and Dragon Ball Z(R). Atari,
Inc. is a majority-owned subsidiary of France-based Infogrames
Entertainment SA (Euronext - ISIN: FR- 0000052573), the largest interactive
games publisher in Europe. For more information, visit
http://www.atari.com.
Safe Harbor Statement
With the exception of the historical information contained in this
release, the matters described herein contain certain "forward-looking
statements" that are made pursuant to the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this release are not promises or guarantees and are subject
to risks and uncertainties that could cause our actual results to differ
materially from those anticipated. These statements are based on
management's current expectations and assumptions and are naturally subject
to uncertainty and changes in circumstances. We caution you not to place
undue reliance upon any such forward-looking statements. Actual results may
vary materially from those expressed or implied by the statements herein.
Some of the factors which could cause our results to differ materially
include the following: the loss of key customers, such as Wal-Mart, Best
Buy, Target, GameStop and EB Games; delays in product development and
related product release schedules; inability to secure capital; loss of our
credit facility; adapting to the rapidly changing industry technology,
including new console technology; maintaining relationships with leading
independent video game software developers; maintaining or acquiring
licenses to intellectual property; fluctuations in the Company's quarterly
net revenues and results of operations based on the seasonality of our
industry; the termination or modification of our agreements with hardware
manufacturers; and other factors described in our SEC filings, including
our Annual Report on Form 10-K for the year ended March 31, 2005 and our
quarterly reports on Form 10-Q, as amended.
The Company undertakes no duty to update any forward-looking statements
to conform the statement to actual results or changes in the Company's
expectations.
ATARI, the ATARI logo, and classic Atari game titles and logos are
trademarks or registered trademarks of Atari Interactive, Inc. or its
affiliates.
"PSP" is a trademark and "PlayStation" and the "PS" Family logo are
registered trademarks of Sony Computer Entertainment Inc. Internet
connection and Memory Stick Duo(TM) may be required (sold separately).
Xbox is a registered trademark of Microsoft Corporation in the United
States and/or other countries.
All other trademarks are the property of their respective owners.
Forgotten Realms, Dungeons & Dragons, Neverwinter Nights and Magic the
Gathering are trademarks of Wizards of the Coast in the USA and other
countries.
SOURCE Atari, Inc.
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Related links:
http://www.atari.com
CONTACT:
Ryan Barr of Atari, Inc., +1-212-726-6996,
ryan.barr@atari.com
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