Atari has acquired the rights to 12 classic arcade properties including Berzerk and Frenzy.
The publisher said the deal will allow it to create new games based on its newly-acquired franchises, expand the digital and physical distribution of those classic titles, and explore brand and merchandising collaborations.
Atari CEO Wade Rosen explained the acquisition is part of the company's broader strategy of "commercializing classic retro IP," and described top-down shooter Berzerk as a perfect example of the sort of title Atari wants to reinvigorate.
"Berzerk is one of those foundational games that so many people first encountered playing on an Atari console," added Rosen in a press release.
What's going on at Atari?
The news comes a few months after Rosen made a "friendly offer" to purchase Atari to support its development ambitions, with the proposed transaction being "unanimously welcomed" by the company's board of directors.
Atari mentioned the offer in its half-year financial report, which saw the company record losses of $5.7 million during the first six months of the year.
One of the main reasons for that downturn in fiscal fortunes was the Atari VCS console, with the company noting that it has been reorganizing its hardware business.
As a result, Atari revealed hardware revenue from VCS and cartridge sales decreased to €0.2 million from €2.3 million, and explained it has suspended its existing VCS manufacturing contracts while it attempts to revise its overall hardware strategy.