Game over? Atari files for bankruptcy

The company, famous for producing titles such as Pong, Asteroids and Centipede, said the move was part of a strategic plan to sever its ties with its troubled French parent and secure independent funding to develop more games for digital and mobile platforms. In a statement, the firm said: "The US based Atari operations seek to separate from the structural financial encumbrances of their French parent holding company, Atari SA ... and secure independent capital for future growth, primarily in the areas of digital and mobile games. "Within the next 90 to120 days, the companies expect to effectuate a sale of all, or substantially all, of their assets [that include] not only one of the most widely recognised brand logos, which is familiar to 90% of Americans...but also legendary game titles including Pong, Asteroids, Centipede, Missile Command, Battlezone and Tempest." Founded in 1972, Atari is credited with helping kick start the multi billion pound video games industry. A detailed company overview can be found here.