The Embracer Group has entered an agreement to buy the North American publishing arm of MMORG-maker Perfect World Entertainment for $125 million.
Shortly after its Asmodee acquisition, Embracer has snapped up another diversified games company. This time it's Perfect World Entertainment, a publishing division that's responsible for key free-to-play MMOs like D&D Neverwinter and Star Trek Online.
Embracer has offered Perfect World Europe $125 million ($60m in cash, $65m in Class B shares) for the Redwood City, California publishing division and Los Gatos, California-based Cryptic Studios, the team behind the aforementioned online games. Perfect World will join Gearbox Entertainment's publishing division as a new subsidiary.
It's important to distinguish that Embracer didn't buy the actual entire Chinese company Perfect World Group, who has exclusive rights to publish Valve's billion-dollar hits DOTA 2 and Counter-Strike GO in China. Embracer purchased the North American division from Perfect World Europe.
"It's an honor for us to welcome this talented group of individuals into the Gearbox Entertainment family. Gearbox will invest into the future of Cryptic as an independent, dynamic studio that is passionate about MMOs. That commitment is paired with an exciting new partnership that will emerge as the talented Perfect World publishing team and their promising line up of future games will become supported and bolstered by the capability and strength of the Gearbox Publishing team,"
--said Randy Pitchford, founder of Gearbox Entertainment Company
" It has been an amazing journey being a part of Perfect World, and we thank them for all of their support throughout the years. PWE is delighted to become a part of the Embracer family, and join Gearbox on their mission to entertain the world. We are eager to apply our vast experience and talents to benefit both shareholders and customers around the world,"
--commented Yoon Im, CEO of PWE.
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