Convert or Modify UV for Texture Atlas?

[redlerred7]

Is there a way to modify UV coordinates of a texture to fit its texture atlas version?
Or
Is there a way to convert the textures into a texture atlas while preserving the UV mapping of a face?

I already have a possible solution to this texture atlas dilemma of mine but I wish to confirm whether or not there is a tool or plugin of some sort that can do it automatically

--ReD