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Icelandic Gaming Company Sold for $425 Million

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Icelandic Gaming Company Sold for $425 Million

EVE Online

Photo: CCP Games.

CCP Games, Iceland’s largest gaming company, has been sold to Korean company Pearl Abyss for ISK 46.6 billion ($425m/€365m), Kjarninn reports. CCP is best known for producing EVE Online, a multiplayer online game.

“CCP Games will continue to operate independently as a developer with studios in Reykjavík, London, and Shanghai, while integrating the company’s extensive development and publishing expertise into Pearl Abyss’ operations for all current and future projects,” states a press release on CCP’s website.

“Pearl Abyss is a fast-growing company with lots to offer in terms of technology, capability and vision,” stated CCP Games CEO Hilmar Veigar Pétursson. “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.”

A sale of CCP Games has been in the works for some time. In 2016, it was reported that the company’s largest owners were considering the move. Though the company has performed well over the last two years, it was sold for significantly less than its projected value in 2016. Last October, the company announced a restructuring plan which affected over 100 of their roughly 370 employees worldwide. As a result, the company’s Atlanta office was closed and their Newcastle office sold, and virtual reality game development was temporarily suspended.

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