Atari assets up for sale after failure to secure buyer

Having failed to find an outright buyer, Atari is to sell off its IPs individually.

The Wall Street Journal reports that assets up for grabs include RollerCoaster Tycoon ($3.5m), Test Drive ($1.5m) and Total Annihilation ($250k). Other less established IPs are also up for grabs including Humongous, Fatty Bear’s Birthday Surprise and Math Gran Prix.

In total Atari hopes to raise $22.3m from the sale.

Atari’s bankruptcy papers said: "The Debtors believe that this type of a targeted bidding process affords the Debtors the best opportunity to market the Assets and maximize the value thereof for the benefit of all stakeholders."

Atari has been searching for a buyer since filing for bankruptcy protection in late January. It is claimed that in the region of 180 potential buyers were contacted, with more than 90 of them agreeing to confidentially agreements and accepting further details of Atari’s finances.

15 preliminary bids were then submitted although Atari chose to reject every one.