Selling classic game franchises and logo.
Iconic video game pioneer Atari’s U.S. operations have filed for bankruptcy. The company plans to sell all its assets in the next three to four months. The assets in question include classic video game franchises like Pong, Centipede, Missile Command and Asteroids.
Atari also plans to sell its logo and while that may sound desperate, it’s not quite game over yet. The move to file for Chapter 11 bankruptcy protection is designed to sever ties with its troubled French parent company Atari SA. It will also allow the company to secure independent funding to develop more games for digital and mobile platforms, which is the direction Atari US has been taking in recent years.
The video game maker has moved away from traditional retail sales to making mobile and digital versions of its classic games and licensing its logo. Releases for iOS and Android platforms have included Atari Greatest Hits and Asteroids Gunner.
In a statement, Atari said, “The Chapter 11 process constitutes the most strategic option for Atari’s U.S. operations as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA.”