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Atari's U.S. operations hope to be bought and made private

Atari's U.S. operations filed for bankruptcy this week in an attempt to escape its French parent, Atari S.A.

Atari, which has been around for 41 years now, is famous for making video games like "Asteroids" and "Pong." However, the game maker has been in financial trouble for some time now.

In the early 2000s, Atari became closely associated with French company Infogrames. In 2003, the company changed its name to Atari S.A., and five years later, it acquired all of Atari's American gaming assets.

Atari attempted to stay relevant by offering mobile versions of its games for smartphones and tablets while also updating games like "Pong." But the parent company still struggled to stay profitable.

Part of the issue is Atari's dependence on BlueBay Asset Management for cash. BlueBay is a financial company in London, and on December 31, a $28 million credit facility with BlueBay failed to be maintained. This stopped Atari from releasing new games.

However, over the last two years, Atari S.A. did report profitable earnings for the first time in a decade. But these earnings were very low, at $11 million for the last two years. But revenue did fall 34 percent in 2012 and 43 percent in 2011.

Now, Atari and three of its affiliates have filed for bankruptcy in the U.S. Bankruptcy Court in New York on Sunday. The U.S. operations hope to leave Atari S.A. and obtain a new buyer. This would take the company private.

Source: The Los Angeles Times

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RE: :'(
By Motoman on 1/22/2013 3:33:53 PM , Rating: 2
No...from what I recall that thing was just a gimmick. Didn't really make the Genesis a 32-bit system...and I don't remember there being very many titles for it either.

RE: :'(
By augiem on 1/22/2013 3:42:38 PM , Rating: 2
The 32X actually did have a 3D processor in it, albeit not very powerful. I remember renting one and playing some mech game. It wasn't very good either.

RE: :'(
By Alexvrb on 1/22/2013 11:30:34 PM , Rating: 2
Not sure what you mean by that. It had 32-bit SH2 processors. It didn't have dedicated 3D graphics acceleration like the impending full 32-bit consoles, but for an add-on (and for the time) it was pretty impressive. It has a perfect port of Doom. There were a few other decent games for it, but most didn't really make good use of the hardware. In particular, the 2D graphics and raw CPU performance were good, and yet developers seemed fixated with poorly textured polys. If the next generation wasn't impending, you might have seen developers make better use of the hardware.

RE: :'(
By Motoman on 1/23/2013 11:26:16 AM , Rating: 2
Ultimately everything had to get processed through the Genesis unit itself, which was only 16-bit. I don't remember all the specifics of the thing at the time, but it boiled down to the Genesis base unit itself basically becoming a thunking layer.

"This is from the It's a science website." -- Rush Limbaugh
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