EVE Online studio buys independence for $120 million, 8 years after being acquired for $225 million

Icelandic video game studio CCP Games has secured its independence from South Korean MMORPG giant Pearl Abyss for significantly less than what was paid for the group years ago.

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CCP Games CEO Hilmar Veigar Pétursson has re-acquired private ownership over the studio. As per reports from The Chosun Daily, Pétursson paid 177.132 Billion Won (roughly $120 million) for CCP Games, nearly half of what the South Korean firm paid nearly a decade ago. Back in 2018, Pearl Abyss acquired CCP Games for an upfront buyout price of $225 million, with the potential of an extra $200 million in bonus payouts.

Now 8 years later, CCP Games has secured its independence for nearly half of the price that Pearl Abyss had originally paid. The group created Eve Online, one of the most popular MMORPGs on the market and a game that caters to a very niche audience.

Pearl Abyss management gave a statement to the Korean Daily newspaper:

"Although the two companies had been striving to strengthen global business competitiveness under independent management principles, after considering mid- to long-term growth strategies, we judged that selling to the current management would be beneficial for both companies. We are keeping the possibility of future collaboration open after the sale."

What's interesting is that Pearl Abyss, a company known for MMORPGs and online games, is now finding tremendous success in the singleplayer AAA realm with its latest release.

Crimson Desert has become one of the fastest-selling games of the year, which is doubly noteworthy because it's set in a new IP and not a prestige catalog brand.

Pearl Abyss is currently working on two new games, including DokeV and Plan 8, whereas CCP Games are expanding farther into the Eve Online franchise, which recently saw a massive spike in players out of seemingly nowhere.

The South Korean game developer also earned praise from the country's prime minister, and has enjoyed a +5.9% share price increase over the last 5 days as a result of positive news.