Perfect World completes acquisition of Cryptic Studios

Atari divests all interest in Champions Online developer for 35 million

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.

Related stories

Atari launching two cryptocurrencies

Shares spike 52% after company unveils Atari Token and Pong, announces plans to allow cryptocurrencies in its gambling business

By Brendan Sinclair

Pre-orders for Ataribox delayed

"Updated launch plan is currently underway," says Atari

By Haydn Taylor

Latest comments (2)

Ceyhun Alyesil IT Integration Manager, SHR Interaktif Servisler6 years ago
They already got strong position on F2P market. With this they become stronger.
0Sign inorRegisterto rate and reply
Stefano Ronchi Indie Game Developer 6 years ago
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.
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.