Atari has announced that it has entered an agreement with Nightdive Studios to acquire the latter for an initial sum of $10 million sometime in April. With the acquisition of the studio responsible for the remakes of System Shock, Doom 64, and Quake, Atari is looking to “enrich its large library of owned IP, be able to leverage Night Dive’s proprietary technology, and utilize Night Dive’s publishing capabilities to support Atari’s retro-focused growth strategy.”

• More MP1st Reading: Luminous Productions to Merge With Square Enix Starting May 1; Forspoken DLC and Patch Still in the Works

Nightdive Studios is currently in the process of releasing its System Shock remake and System Shock 2 remaster, as well as Rise of the Triad: Ludicrous Edition over the course of the next few months. Atari will now be acquiring the studio in a unanimously-approved move in a deal initially worth $10 million (split evenly between cash and Atari shares). Following the acquisition, the French video game holding company will be issuing €30 million in convertible bonds to reimburse bridge financing and ensure “continued investment in growth initiatives” for “more than 12 new games expected to be launched in the next 18 months.”

Nightdive Studios heads Stephen Kick and Larry Kuperman stated:

Night Dive and Atari have a long history together and we know that Atari shares our passion for retro games and our focus on producing high-quality new and remastered games that do justice to the original IP. As we look to grow our business and expand our capabilities, we could think of no better long-term partner than Atari.

Wade Rosen, Chairman and CEO of Atari said:

Night Dive’s proven expertise and successful track record in commercializing retro IP is well-aligned with Atari’s strategy and I am confident that their combined talent, technology and IP portfolio will contribute to Atari’s future success.

As for Nightdive Studios’ projects, the System Shock remake shoots out May 30 for PC, with a console release date to be announced later. Check out the gameplay trailer that also featured the return of the SHODAN AI.