Pearl Abyss has announced the sale of CCP Games, the studio behind the legendary EVE Online, back to its current management. This marks the end of an eight-year stint since the acquisition in 2018.

In a regulatory filing on the 30th, Pearl Abyss confirmed it would offload 10,973,763 shares of its sub-subsidiary, CCP Games, for 177.1 billion KRW (approximately 120 million USD). The deal is slated to close on May 6. Pearl Abyss described this as a strategic move to sharpen their long-term growth, improve their financial standing, and boost operational efficiency.

CCP Games has been at the helm of the sci-fi MMORPG EVE Online since its debut in 2003, a title that has amassed 40 million registered users. Pearl Abyss originally acquired the studio in 2018 for 252.4 billion KRW, aiming to secure fresh IP and bolster their internal development capabilities.

However, the studio's growth remained stagnant as subsequent titles failed to meet expectations. Pearl Abyss Iceland, the subsidiary holding the shares of CCP Games, has reported nearly 200 billion KRW in net losses over recent years, placing a significant financial burden on Pearl Abyss.

Pearl Abyss stated that it remains open to future collaboration with CCP Games. They clarified that the transaction is limited to a change in ownership and corporate structure, and that the studio’s organization, products, development plans, and direction remain unchanged. The buyout is being led by current CEO Hilmar Veigar Pétursson.