Video game maker Atari's U.S. operations have filed for Chapter 11 bankruptcy protection in an effort to separate from their French parent company.
In a statement, Atari says the move is necessary to secure investments it needs to grow in mobile and digital gaming. Atari, which turned 40 last year, was a video game pioneer with games like “Pong” and “Centipede,” but has changed owners several times amid financial problems.
France's Infogrames Entertainment first took a stake in Atari in 2000. It acquired the remaining stake in 2008 and changed its name to Atari S.A.