Pearl Abyss to sell "EVE Online" developer CCP Games.
Pearl Abyss said on the 30th that it will sell its subsidiary CCP Games to the current management, CEO Hilmar Petursson, for about 177.132 billion won. It noted the purpose of the disposal is "to improve the financial structure and increase management efficiency." The scheduled disposal date is May 6.
Pearl Abyss said, "The two companies have worked to strengthen global business competitiveness under independent management principles, but after considering mid- to long-term growth strategies, we determined that selling to the current management would benefit both companies," adding, "We are leaving the door open for collaboration even after the sale."
CCP Games, founded in 1997 and based in Iceland, is a game developer that gained global recognition through its flagship title "EVE Online." Pearl Abyss acquired CCP Games in 2018 as part of its portfolio diversification. However, as CCP Games' continued operating losses negatively affected Pearl Abyss' results, it is seen as deciding to sell after eight years.