Pearl Abyss, the creator of the MMO Black Desert Online, have announced that it will acquire Iceland-based CCP Games. CCP Games is well known for being the creators of the insanely popular space MMORPG EVE Online. Through this deal, CCP Games will still operate independently from Pearl Abyss, operating their Shanghai, London and Reykjavik studios.
Based in South Korea, Pearl Abyss has seen record-high sales in 2018, specifically following the launch of Black Desert Online in Korea. Seeking to capitalize on the success, the acquisition of CCP Games brings a seasoned global publisher into the fold.
From the official press release:
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 player base, 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.”
CCP Games CEO Hilmar Veigar Pétursson weighed in as well, pointing out that the acquisition will help CCP Games and Pearl Abyss reach “new heights.”
“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.”
Pearl Abyss recently launched a remaster of their flagship title Black Desert Online for PC, and is currently working on BDO for Xbox One due to release a beta this fall. CCP Games recently released their latest expansion this past spring, Into the Abyss, bringing with it new ships, weapons, updates to Planetary Interaction UI.
In a follow up email to this news, we asked whether the acquisition will affect any of their upcoming activities, and while they have confirmed that this news does not affect EVE Vegas in October, and shouldn’t have an effect on their 2019 events. The news also comes on the heels of a rather interesting year which saw CCP Games cease VR development and sell off their Newcastle studio responsible for EVE: Valkyrie, as well as a round of layoffs last fall.
You can view the full press release below:
Black Desert Online Creators Pearl Abyss to Acquire CCP Games, Makers of EVE Online
Hit MMO developers join forces for the benefit of all current and future projects
SEOUL - September 6, 2018 - Today, Black Desert Online developer Pearl Abyss announced that it will acquire CCP Games, the 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, 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 and first launched in 2003. The game is renowned for its scale and complexity with regards to player interactions. In EVE’s single, shared game world, players can take on a number of in-game professions and engage in unscripted economic competition, warfare, and political schemes with each other across several thousand explorable solar systems. Today, the game 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.
Article compiled by Joseph Bradford
