Atari, Inc. was founded on the 27th of June 1972, by Nolan Bushnell and Ted Dabney in Sunnyvale, California. The two had previously designed Computer Space, the world's first commercially available arcade video game, under their earlier company Syzygy Engineering.
What does the name Atari mean?
Atari is a term from the ancient Japanese board game Go, where it signals that a group of stones is in immediate danger of being captured by an opponent. The word also means "to hit a target" in Japanese. Nolan Bushnell chose it from among several Go terms before incorporating the company in 1972.
Why did Warner Communications sell Atari in 1984?
The video game crash of 1983 produced losses totaling more than $500 million at Atari, and Warner's stock price fell from $60 to $20. Warner sold Atari's consumer electronics and home computer assets to Jack Tramiel's Tramel Technology for $240 million in promissory notes and stock, completing the deal close to midnight on the 1st of July 1984.
What was the Atari Lynx and why did it fail?
The Atari Lynx, released in 1989, was the first handheld game console with a color backlit display. A shortage of parts prevented nationwide availability for the 1989 Christmas season, and the system lost market share to Nintendo's Game Boy, which was cheaper, had longer battery life, and was far more widely available despite its black-and-white screen.
How did Hasbro acquire the Atari brand?
On the 13th of March 1998, Hasbro Interactive purchased the Atari name and assets from JTS for $5 million. JTS had acquired those assets when Atari Corporation reverse-merged with the disk-drive manufacturer in July 1996. Hasbro immediately announced remakes of Atari classics, beginning with Centipede on Windows PCs.
When did Atari file for bankruptcy?
On the 21st of January 2013, four related Atari entities filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of New York. All three Atari companies emerged from bankruptcy approximately one year later under CEO Frederic Chesnais, whose staff at that point numbered 10 people.