Perfect World to Acquire Cryptic Studios from Atari

May 31, 2011 -

China-based MMO giant Perfect World has entered into an agreement with Atari S.A. to acquire a hundred percent equity interest in Cryptic Studios, the developers of Champions Online, Star Trek Online, and City of Heroes. The California-based online game developer will cost Perfect World approximately EUR 35.0 million in cash, or $49.8 million. The deal is subject to working capital, adjustments as provided in the agreement, and other customary closing conditions. It is assumed that Perfect World does not gain control of the MMO's that Cryptic currently facilitates such as Champions Online or Star Trek Online.

While Cryptic Studios certainly gives Perfect World a strong foundation to build up its presence in the West, the company is no stranger to the North American and European MMO markets. While it has brought a number of its popular games from China to Western countries, Perfect World is best known for publishing Runic Games' popular action RPG's Torchlight and Torchlight for consoles in North America.

"We are very pleased to sign the agreement to acquire Cryptic Studios," commented Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. "This strategic acquisition will add attractive game titles to our portfolio, which will help us further penetrate into the U.S. and global online game markets. More importantly, Cryptic Studios' highly reputable development team and its technology platform will further strengthen our well-established R&D capabilities. We deem this as another noteworthy achievement of our global expansion efforts."

Atari CEO Jim Wilson added that this move falls in line with the company's plan to work more with third-party developers, and to rely less on in-house studios. The company announced its plans earlier this month to sell Cryptic.

 


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PHX CorpI'll probaly Start the stream around 8PM Eastern08/31/2015 - 10:09pm
PHX CorpOk, see you guys Tomorrow on the GP Facebook Page, I'll be steaming either the first 2 megaman games(Through Megaman Legacy Collection) or Rare Replay as the first game on My twitch.tv page tomorrow While we wait for GP to Come back up later this week08/31/2015 - 10:01pm
james_fudgeAlso check out our Facebook page and chat there! https://www.facebook.com/gamepolitics08/31/2015 - 9:53pm
james_fudgeSee you all on the other side! Find me on Twitter :)08/31/2015 - 9:51pm
james_fudgeAllright, i'll mention this on the GP facebook page08/31/2015 - 9:49pm
PHX Corpand now it's ready to go for everyone08/31/2015 - 9:35pm
PHX Corpok, done http://www.twitch.tv/trustygemtwitch I have to put on one more finishing touch and it is ready to go08/31/2015 - 9:19pm
Andrew EisenFeel free to leave us suggestions on Facebook or Twitter too. We're going to be busy but we'll try our best to keep an eye on 'em.08/31/2015 - 8:59pm
Andrew EisenIt's an interesting idea though. If we do anything, we probably won't know until after the site goes offline so keep an eye on GP social media for announcements.08/31/2015 - 8:59pm
Andrew EisenYeah, we could use my Twitch chat box too. There's always IRC but we don't currently have a GamePolitics channel.08/31/2015 - 8:57pm
Goth_SkunkThough I think the limit is 9 at a time in the hangout, so anyone who can't get in would be stuck out in the 'on air' portion.08/31/2015 - 8:57pm
Andrew EisenFor the show, I'd like the chat open to anyone who wants to watch.08/31/2015 - 8:55pm
PHX CorpI could Set Up a Temporary chatroom on My twitch.TV page while GP is busy updating the site(since I'll be Fighting Megaman Legacy Collection on Xbox one)08/31/2015 - 8:54pm
Goth_SkunkI don't see a problem with inviting viewers. It's not like I'm advocating this to be an open forum, just something specific to GP members.08/31/2015 - 8:53pm
Andrew EisenThat's why I embed the chat box from my Twitch Page. Can't get chat on the YouTube page to work either.08/31/2015 - 8:49pm
Andrew EisenI do but I haven't seen a way to incorporate viewers to chat without specifically inviting them to the event.08/31/2015 - 8:49pm
Goth_SkunkThough I'm surprised you'd not be familiar with this, Andrew. Do you not use Google Hangouts when you do S.P.A.C.?08/31/2015 - 8:45pm
Andrew EisenGP Movie Night!08/31/2015 - 8:41pm
Big PermEveyone should be too busy with phantom pain to notice GP is down. Hail Vidya!08/31/2015 - 8:40pm
Goth_SkunkBut such a hangout *could* be a neat idea. It could be used, for example, for all us GPers to get together and watch the new FemFreq video, and then discuss amongst ourselves in real time what our thoughts are.08/31/2015 - 8:38pm

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