Pearl Abyss is divesting CCP Games, the studio behind EVE Online, according to Korean news reports. The former is selling the latter to its own management team, specifically CCP’s CEO Hilmar Pétursson, for about ₩177 billion, or around $120 million. Th deal is expected to close sometime this week.
According to Pearl Abyss, this disposal will help improve the financial structure of both companies, which will keep the possibility of future collaboration open. Pearl Abyss acquired CCP Games in 2018 for $425 million. At the time, Pétursson said that he saw a lot of synergy between the two companies and told GamesBeat, “We came to the conclusion this would be a good time to make the change.”
A Pearl Abyss spokesperson told InvenGlobal, “Both companies have consistently worked to strengthen their global competitiveness under an independent management structure. After exploring various mid-to-long-term growth strategies, we concluded that selling the company to its current management is in the best interest of both parties’ futures.”
InvenGlobal reports this divestment likely comes after years of an operating loss from CCP Games, despite the continued success of EVE Online. Pearl Abyss itself has since published Crimson Desert, which has sold millions of units since launch.