Pearl Abyss is selling its subsidiary CCP Games, famous for the long-running global MMORPG 'EVE Online', and focusing company-wide capabilities on developing its own new games.

Pearl Abyss officially announced on the 30th that it would sell its subsidiary CCP Games to the current management for $120 million (about KRW 177.1 billion).


This sale was a decision made after careful consideration of the mid- to long-term growth direction of both companies.

A Pearl Abyss official explained the background to the sale, saying, "Both companies have been continuously working to strengthen their global business competitiveness under an independent management philosophy. After considering mid- to long-term growth strategies from various angles, we decided that selling the company to the current management would be most beneficial to the future of both companies."

In addition, although the equity relationship will be terminated, Pearl Abyss added, "Even after the sale, the two companies are open to the possibility of collaboration," indicating that they will continue their friendly relationship.


Operating loss following acquisition in 2018… Securities market “positive sign of financial burden being relieved”

CCP Games is a game developer located in Iceland, and is a powerful company that has successfully served its representative space-based science fiction game 'Eve Online' for over 20 years. Pearl Abyss acquired CCP Games in 2018 for the purpose of diversifying its portfolio and securing global IP.

However, CCP Games' continued operating losses since the acquisition have placed a significant burden on Pearl Abyss' financial structure.

Accordingly, securities companies and industry experts are interpreting this sale as a very positive sign. This is because uncertainty was resolved by boldly eliminating loss-making affiliates that had had a negative impact on Pearl Abyss' consolidated financial statements for several years. Pearl Abyss, which was relieved of its financial burden, was able to actively invest the large funds secured through this sale into new IP development and marketing.

Regarding the calculation of the sale price, Pearl Abyss said, "It was calculated objectively by comprehensively considering CCP Games' current business structure and market conditions."

In addition, he elaborated on the reason for choosing and focusing, saying, "At the time of the acquisition, it was a decision based on a firm strategic decision to secure global IP and diversify the portfolio, but now the business environment of the global game industry and the company's strategic priorities have changed significantly from the past."


Although it has gone through the process of being sold, there are clearly benefits that Pearl Abyss has gained from holding CCP Games for the past six years.

Pearl Abyss was evaluated as having achieved the success of absorbing the vivid experience of CCP Games, which has successfully operated its representative IP in the global market for over 20 years, and its core operational know-how in managing and maintaining a passionate global fandom community.

Meanwhile, Pearl Abyss is currently entering a new heyday thanks to the success of its new action-adventure game 'Red Desert'. 'Red Desert' has surpassed 5 million copies sold in the global market, setting a new record for the highest box office success in Korean console game history.

Pearl Abyss, which is generating enormous sales through the successful launch of new games, has secured financial soundness and ammunition with the addition of funds from the sale of CCP Games. Based on this, Pearl Abyss plans to continue its strong growth strategy centered on core titles with solid competitiveness in the global market.