Atari U.S. files for bankruptcy, but plays on

The U.S. arm of Atari, the iconic video game company that created "Pong," filed for bankruptcy on Monday.

But Atari will live on. The move is aimed at breaking the American branch away from its unprofitable French parent company.

In particular, Atari U.S. is looking to "secure independent capital for future growth, primarily in the areas of digital and mobile games," the company said in a written statement.

Over the next three to four months, Atari U.S. will seek buyers for some of its assets, including the Atari logo and the company's games catalog. Atari as a whole owns or manages more than 200 games and franchises.

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