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Perfect World completes acquisition of Cryptic Studios

Wed 10 Aug 2011 7:25am GMT / 3:25am EDT / 12:25am PDT
Business

Atari divests all interest in Champions Online developer for 35 million

Atari

Atari group is a global creator, producer and publisher of interactive entertainment for interactive...

atari.com

Chinese MMO developer Perfect World has completed its acquisition of Cryptic Studios from Atari.

The deal was announced in May, with Perfect World paying around 35 million ($50.2m/30m) in cash for the company.

"This strategic acquisition will add attractive game titles to our portfolio, which will help us further penetrate into the US and global online game markets," Michael Chi, chairman and CEO of Perfect World, said at the time.

"More importantly, Cryptic Studios' highly reputable development team and its technology platform will further strengthen our well established R&D capabilities. We deem this as another noteworthy achievement of our global expansion efforts."

Cryptic is currently developing the free-to-play MMO Champions Online, as well as content for Star Trek Online and the Dungeons & Dragons RPG Neverwinter. Perfect World also purchased a controlling stake in Torchlight developer Runic Games in may last year.

Atari will use 21.6 million from the sale to pay a portion of its debt to BlueBay, with the balance funding projects in the social and mobile markets.

2 Comments

They already got strong position on F2P market. With this they become stronger.

Posted:3 years ago

#1

Stefano Ronchi
Indie Game Developer

50 0 0.0
Always short-term decisions: Cryptic's free-to-pay model is one of the best in the industry and would of got them much more in the long term. Hope it helps Cryptic though.

Posted:3 years ago

#2

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