To be sold to the current management…KRW 177.1 billion
As if the deficit has continued and the financial burden has increased
Strengthen core title-oriented strategies such as ‘Red Desert’
ėŽė§ íë Pearl Abyss ‘Red Desert’.
Pearl Abyss will sell Iceland-based game developer CCP Games, which it acquired in 2018. It is the place where the game “Eve Online” was developed, and it is believed that the sale was decided as the financial burden of Pearl Abyss grew as the deficit continued.
Pearl Abyss announced in a public announcement on the 30th that it will sell all of the issued shares of CCP Games owned by Pearl Abyss Iceland for 177.132 billion won.
The decision was made through the board of directors of Pearl Abyss on the same day, and the scheduled disposal date is on the 6th of next month. The stake in the sale will be purchased by the current CCP Games management.
CCP Games is a game company acquired by Pearl Abyss in 2018 by investing about 252.5 billion won, and Pearl Abyss has transferred its stake in CCP Games to the Icelandic corporation after establishing a local subsidiary, Pearl Abyss Iceland, to acquire it.
CCP Games has been stably serving “Eve Online,” a long-lived IP (intellectual property), but it is believed that Pearl Abyss has started to sell as the deficit continues.
According to the Pearl Abyss business report, the net loss of the Pearl Abyss Icelandic subsidiary last year was 41 billion won.
An official from Pearl Abyss explained, “The two companies have been striving to strengthen their global business competitiveness under an independent management stance, and after considering mid- to long-term growth strategies, we decided that selling it to the current management would help both companies.”
It added that the deal is limited to changes in ownership and governance and will remain unchanged in CCP Games’ organization, product, development plan and direction. As it was a corporation to acquire CCP Games, Pearl Abyss Iceland is also expected to withdraw in the future.
Meanwhile, Pearl Abyss’ global-launched “Red Desert” this year surpassed 5 million global sales. As the Eevee IP has been summarized, Pearl Abyss is expected to strengthen its strategy centered on core games such as “Guardian,” which is being developed as the next movie along with the Red Desert.