Pearl Abyss sells EVE Online studio CCP Games to management in $120m deal

• CCP Games management team is acquiring the EVE Online developer.
• Pearl Abyss says the sale supports its long-term growth strategy.
• EVE Online developer CCP Games will continue operating independently.

Pearl Abyss has confirmed the sale of EVE Online developer CCP Games to the company’s existing management team in a deal valued at $120 million.

As reported by Invent Global, the announcement was made through a regulatory filing on April 30th, with Pearl Abyss stating that the decision followed discussions around the long-term growth strategies of both companies.

Pearl Abyss said the move will allow it to focus more heavily on internal projects and strengthen investment in new intellectual property. 

Although the owner structure will change following the sale, the company added that both sides remain open to future collaboration.

“Both companies have consistently worked to strengthen their global competitiveness under an independent management structure," said Pearl Abyss in a statement. 

“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."

Financial restructuring

Pearl Abyss acquired CCP Games in 2018 as part of a strategy to diversify its global portfolio and secure internationally recognised IP.

The current $120 million sale price is significantly lower from the deal’s previous valuation of up to $425 million.

After a troubled launch that initially caused its stock price to plunge, Pearl Abyss is now benefiting from the success of Crimson Desert, which has surpassed 5m copies sold globally.