Eve Online studio CCP acquired by Pearl Abyss
South Korean developer behind Black Desert Online spends $425 million on Icelandic games firm
CCP Games has agreed to be acquired by South Korea-based games studio Pearl Abyss for $425 million.
CCP will continue to operate independently, retaining its 250 employees across its flagship studio in Reykjavik, Iceland, plus offices in London and Shanghai.
The deal is expected to close around October 12th. The $425 million encompasses both a cash purchase and bonus earnout if certain financial targets are met.
The Eve Online developer's new parent is best known for the popular MMO Black Desert Online, which has 9.5 million players worldwide, with 3.1 million in the West.
The deal follows CCP's previous efforts to expand Eve Online in the East, having expanded a partnership with NetEase last month. We spoke to CEO Hilmar Pétursson about how this partnership could help the firm double the MMO's audience.
It's a further sign of CCP doubling down on its efforts in the MMO space. Previously the firm has also been a major proponent of virtual reality, but in a surprise move pulled out of the VR space and closed the Newcastle studio behind Eve Valkyrie.
“I have been seriously impressed with what Pearl Abyss has achieved ever since I first visited their website for Black Desert Online and subsequently became an avid player of the game,” said CCP Games CEO Hilmar Veigar Pétursson.
“Pearl Abyss is a fast-growing company with lots to offer in terms of technology, capability and vision. I believe our two companies have a lot to learn from each other. We are very excited to join forces with them and achieve great new heights for our companies, our games and - above all - our players.”
Pearl Abyss CEO Robin Jung added: "We are thrilled to have CCP Games join our team as Black Desert Online continues to branch out globally. CCP is a seasoned publisher with over 15 years of digital distribution experience and know-how. They have done an incredible job of engaging and maintaining their playerbase, which we aim to learn from and integrate natively into Pearl Abyss' general practices across all our games.
"I am confident CCP's reputable IP and expertise in global publishing will help reaffirm our company's dedication to developing and servicing the world's best MMORPGs."