Founded in 1999, Atom Entertainment owns four online entertainment brands: Shockwave.com and AddictingGames.com are gaming sites, offering nearly 1,500 free and downloadable games. AtomFilms.com and AddictingClips.com are two film and video sites for short-form comedy, animation, drama and user-generated content.
MTVN says that following its recent purchases of XFIRE, Y2M, GameTrailers.com, IFILM and Neopets, this acquisition demonstrates it commitment to being a multi-platform media company. It also represents an attempt to keep apace with new internet competitors Myspace and YouTube.
This acquisition is in line with our business strategy of being a leader in the digital space and connecting with consumers on every platform and device they use, said Judy McGrath, chairman and CEO, MTV Networks.
MTVN says that by incorporating Shockwave.com and AddictingGames.com, it will have more than 50 million gamers playing more than 400 million games a month.
The acquisition is expected to close in the third quarter 2006.
