Atari Expands European Reach with Major Investment in Thunderful Group

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Atari has announced a significant move to boost its presence in Europe. The company is set to acquire roughly 82% of Thunderful Group, a gaming company based in Sweden, for about 4.5 million euros.

Thunderful Group includes a global business for publishing games, five game studios with different creative and tech skills, and a services division. The company also owns over 20 game titles, including popular ones like SteamWorld, ISLANDERS, Lost in Random, and Vampire’s Fall.

Wade Rosen, Atari’s chairman and CEO, stated that this deal is a big step for Atari. He highlighted that it will “help Atari grow its publishing and game development in Europe”. Alongside the acquisition news, Thunderful Group also revealed its plans for a major restructuring. This plan aims to reorganize its publishing and development parts to cut costs and improve its cash flow from operations.

As part of this change, Martin Walfisz, the current CEO of Thunderful Group, will step down by December 31, 2025. The transaction involves Atari becoming the owner of 82% of Thunderful’s shares through a special issuance of new shares. The deals needs to be approved by Thunderful’s shareholders at a special meeting set for around August 28, 2025.

To make sure Atari can complete the transaction without needing to make an offer for all remaining shares under Swedish law, the Swedish Securities Council has given Atari an exemption. Atari plans to finance this acquisition either from its own funds or through a potential new loan from IRATA LLC.