Atari has acquired Crossy Road developer Hipster Whale for over $29 million, with a total potential cost of nearly $40 million.
Atari has purchased the Australian studio Hipster Whale for an initial $29.3 million, consisting of $26 million in cash and $3.3 million in newly issued Atari ordinary shares. There is also a potential earn-out of up to $10 million over the next three years based on Hipster Whale’s performance. The acquisition aims to enhance Atari's mobile development and publishing capabilities, with Hipster Whale's co-founder Matt Hall expected to lead this expansion.
Atari CEO Wade Rosen highlighted the shared passion for classic retro-style gaming between the two companies, emphasizing the synergy in their strengths – Hipster Whale in mobile gaming and Atari in premium gaming. The deal marks a significant milestone in Atari's growth strategy, aligning with Hipster Whale's mission to bring arcade spirit to mobile platforms.
Atari's recent acquisitions include Implicit Conversions, the rights to the first five Wizardry RPGs, and Digital Eclipse. The company, originally founded in the US in 1972, recently saw majority shareholder approval for re-domiciliation from France to Luxembourg.
