Pearl Abyss is selling its subsidiary CCP Games, known for the long-running global MMORPG 'EVE Online,' to focus its company-wide resources on developing new internal titles.

In a regulatory filing on the 30th, Pearl Abyss officially announced the sale of CCP Games to its current management team for $120 million (approximately KRW 177.1 billion).

This decision was reached after careful consideration of the mid-to-long-term growth strategies for both companies.

A Pearl Abyss representative explained the background of the sale, stating, "Both companies have consistently worked to strengthen their global competitiveness under an independent management structure. After exploring various mid-to-long-term growth strategies, we concluded that selling the company to its current management is in the best interest of both parties' futures."

Furthermore, while the equity relationship will be dissolved, Pearl Abyss added that "the two companies remain open to potential collaboration," signaling that they intend to maintain a friendly relationship.

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CCP Games is an Iceland-based developer with a proven track record, having successfully serviced its flagship space-themed sci-fi game, 'EVE Online,' for over 20 years. Pearl Abyss acquired the company in 2018 with the goal of diversifying its portfolio and securing global IP.

However, persistent operating losses at CCP Games following the acquisition have placed a significant burden on Pearl Abyss' financial structure.

Consequently, analysts and industry experts view this sale as a highly positive signal. By shedding a loss-making subsidiary that had negatively impacted Pearl Abyss' consolidated financial statements for years, the company has resolved a key source of uncertainty. Having shed this financial weight, Pearl Abyss can now actively invest the substantial capital secured from the sale into the development and marketing of new IP.

Regarding the valuation of the sale, Pearl Abyss stated that the price was "determined objectively by comprehensively considering CCP Games' current business structure and market conditions."

The company further elaborated on its choice to focus its resources, noting, "While the acquisition was a sound strategic decision at the time to secure global IP and diversify our portfolio, the global gaming business environment and our company's strategic priorities have shifted significantly since then."

Although the company is being sold, Pearl Abyss clearly gained value during its six-year ownership of CCP Games.

Pearl Abyss assessed that it successfully absorbed CCP Games' extensive experience in operating a flagship IP in the global market for over two decades, as well as key operational know-how in managing and maintaining a passionate global fan community.

Meanwhile, Pearl Abyss is currently enjoying a new golden age thanks to the success of its new action-adventure game, 'Crimson Desert.' With over 5 million units sold globally, 'Crimson Desert' is setting new records as the most successful Korean console game in history.

With massive revenue generated from its successful new launch, combined with the proceeds from the CCP Games sale, Pearl Abyss has secured both financial stability and significant capital. The company plans to use this foundation to steadfastly pursue a growth strategy centered on core titles with strong global competitiveness.