Perfect World Acquires Cryptic Studios
Atari announces sale of Cryptic Studios to Perfect World Inc.
Perfect World Inc has acquired Cryptic Studios, a subsidiary of Atari. The announcement comes weeks after Atari revealed interest in selling the studio. Perfect World is a Beijing based MMO developer known for various free-to-play MMO's.
"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."
Cryptic was acquired by Atari's parent company, Infogrames (now Atari S.A.) in 2008 to focus on MMO development for the company. Cryptic eventually released Champions Online and Star Trek Online for the PC. The former went free-to-play earlier this year.
"With the acquisition by Perfect World, Cryptic has found a strong platform for continued expansion into free to play business model and growth in the global marketplace," said Jim Wilson, CEO of Atari. "The divestiture of Cryptic is in line with Atari's continued focus on key owned and third-party strategic franchises and expansion into emerging game platforms."
It's currently unknown whether Champions Online or Star Trek Online will be impacted by this decision.
Cryptic Studios was founded in 2000, the company is also known for the City of Heroes/City of Villains games. The studio is currently working on Neverwinter for Atari.