Founded in 2014, Hipster Whale is an independent development studio based in Melbourne, Australia. Its flagship title, Crossy Road, has surpassed 340 million downloads to date. Throughout its history, Hipster Whale has won over a dozen awards and established strategic partnerships with global players such as Bandai Namco and Disney.

For the 12-month period ending January 31, 2026, Hipster Whale generated revenue of USD 8.28 million and EBITDA of USD 4.63 million, reflecting a profitable and cash-generative business. Atari expects the acquisition to close within the coming days.

The purchase price will include an initial payment of USD 29.3 million, payable upon closing, consisting of USD 26 million in cash and USD 3.3 million in newly issued Atari shares. The deal also includes an earn-out of up to USD 10 million, payable in cash over the next three years.

A portion of the acquisition price, amounting to USD 3.3 million, will be settled via debt offset through the issuance of new Atari shares. The reserved capital increase will result in the issuance of 117,813 new shares. Consequently, a Hipster Whale shareholder will hold approximately 4% of Atari's share capital.