The once-powerful game company Atari, which has faced major losses over the past few years, has finally announced its exit from the game development industry this Wednesday. The company's CEO David Pierce resigned as well, and he will be replaced with chief restructuring officer Curtis G. Solsvig III. From now on, Atari will only be concerned with licensing, publishing, and distributing games by it's parent company, Infogrames.

This is a sad event, but it's not like nobody saw it coming. Atari has been struggling ever since its consoles were beaten by Nintendo and the girth of other competition in the early 90s. Let's just hope that we still get some awesome Budokai Tenkaichi games.
[via Joystiq]