Atari Acquires Hipster Whale, Creator of Crossy Road, for $29.3 Million
Atari announced on Monday the acquisition of Hipster Whale, the Australian studio behind the successful Crossy Road franchise, which has surpassed 340 million downloads. This move positions the group to accelerate its development in the rapidly expanding mobile gaming sector.
A Two-Phase Operation
Atari acquires Hipster Whale for an initial consideration of $29.3 million paid at closing, consisting of $26 million in cash and $3.3 million in newly issued ordinary shares. An additional compensation of up to $10 million will be paid in cash over three years based on the future performance of the studio. The cash component of the financing combines a bank loan of $13.1 million and a loan of $14 million provided by IRATA LLC, the group's main reference shareholder. The transaction is expected to be finalized in the coming days, the group specified.
A Profitable Studio Generating Cash Flow
Hipster Whale generated $8.28 million in revenue and $4.63 million in EBITDA in the twelve months ending January 31, 2026, according to unaudited financial data. This performance demonstrates a profitable business model that generates cash flow. The reserved capital increase will result in the issuance of 117,813 new ordinary shares, valued at €24 per share. Following this operation, the studio's shareholder will hold about 4% of Atari's capital. Atari has also agreed to a one-year lock-up period on the received shares.
Crossy Road Enhances Atari's Mobile Portfolio
Hipster Whale brings to Atari the Crossy Road franchise in its free versions and Apple Arcade exclusives, enriching a mobile game portfolio that already includes RollerCoaster Tycoon Classic, RollerCoaster Tycoon Touch, and the Vampire Falls franchise. Over the past twenty-four months, Atari has expanded its premium mobile development activity with projects for Netflix, Amazon, and the AirConsole gaming platform.
