French publisher Infogrames further cements its partnership with Atari by agreeing to merge with the US company.  The two entities were already quite tightly knit; Infogrames has been using the Atari brand name for its global operations since 2003.  Today's announcement makes Infogrames' ownership of Atari complete through the purchase of the subsidiary's remaining outstanding shares to the tune of $11 million USD.

This agreement is an essential and positive development for Infogrames and its shareholders. It brings Atari fully under the control of Infogrames, delivering a platform for future growth in the US. This step closely follows a series of recent major restructuring actions implemented in an effort to reposition Atari, streamline its corporate structure and reduce its annualized costs, including costs related to being a US public company.

The merger is expected to be completed during the third quarter of this calender year, at which point Atari will become a wholly-owned subsidiary of Infogrames.  Interestingly, sources cite that the French company may instead choose adopt Atari's name for itself.  Currently a majority shareholder of Atari, Infogrames has been working towards getting the US publisher to stop losing money.  The French company is agreeing to lend Atari a cool $20 million USD for the time being, to better fund its operations until the merger is finally sealed.