Icelandic game company CCP bought by Pearl Abyss
Black Desert Online developer Pearl Abyss announced this morning that they will be acquiring CCP Games, creators of popular spaceship MMORPG Eve Online.
The deal outlines that CCP Games will continue to operate independently as a developer with studios in Reykjavik, London and Shanghai, states an announcement, while integrating the company’s extensive development and publishing expertise into Pearl Abyss’ operations for all current and future projects.
EVE Online is a space-based, persistent world MMO game, developed by CCP’s Reykjavik studio. The game first launched in 2003 and has since gained recognition for its scale and complexity with regards to player interactions in EVE’s single, shared game world. EVE Online is one of the most critically-acclaimed MMORPG intellectual properties (IPs) in North America and Europe, and one of the most extensive works of science fiction in the world.
Pearl Abyss CEO Robin Jung stated, “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 hope to 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.”
“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.”
Birgir Már Ragnarsson of Novator Partners and Chairman of CCP commented, “As lead investor in CCP for over 13 years alongside General Catalyst and NEA, we’ve seen CCP go from being a few dozen people strong to employing hundreds all over the world, with an ever-increasing customer base and multiple titles. CEO Hilmar V. Pétursson and his dedicated team have built a company that Novator and its partners are proud to hand over to Pearl Abyss and we wish them the best of luck in their future ventures.”
Pearl Abyss first launched its open-world MMORPG, Black Desert Online, in Korea in 2014. The game has received critical acclaim for its advanced graphics, seamless world, large-scale castle sieges and action-based combat system. Since Pearl Abyss’ initial public offering in 2017, the company has worked to secure competitive global IPs, such as EVE Online, through strategic investments and M&A activity.
Pearl Abyss saw record-high sales in the first half of 2018, following the launch of Black Desert Mobile in Korea. The company is looking forward to another strong year in 2019 with EVE Online and the upcoming global launch of Black Desert Mobile.
Deutsche Bank is acting as financial advisor to Pearl Abyss, and Kim & Chang is providing legal counsel. The Raine Group is acting as financial advisor to CCP Games, and White & Case LLP and LOGOS are providing legal counsel.
About Black Desert Online
Black Desert Online is an open-world action MMORPG with cutting-edge visuals and skill-based combat that redefines the way we see the genre. Black Desert Online has the most fully developed character customization system of any game that is currently on the market. This feature allows users to break out of the norm and make unique characters that truly represent each and every player. Its intuitive controls, beautifully designed world and extensive lore will excite both newcomers and veterans of MMO games and action RPGs in general. The game has been successfully launched in over 150 countries, is available in 12 languages and has more than 10 million registered users. The mobile and console versions are scheduled to launch globally in 2018. For more information about Black Desert Online, go to https://www.pearlabyss.com.