China’s Perfect World Acquires Cryptic Studios
Chinese online game developer and operator has announced that it has invested EUR35 million to acquire a 100% stake in Cryptic Studios, an online game developer owned by Atari.
Founded in 2000, Cryptic Studios is a leading developer of massively-multiplayer online role playing games. It developed the innovative and successful City of Heroes, as well as its subsequent expansion, City of Villains. Cryptic was purchased by Atari in December 2008, and created Champions Online and Star Trek Online after that.
Michael Chi, chairman and chief executive officer of Perfect World, said they are glad to acquire Cryptic Studios. This strategic purchase will add new attractive gaming products to its portfolio and help the company further penetrate into the U.S. and worldwide online game markets. Moreover, Cryptic Studios’ renowned development team and technical platform will enhance Perfect World’s research and development strength.
Jim Wilson, chief executive officer of Atari, said that after being purchased by Perfect World, Cryptic Studios will gain a powerful platform to expand in the worldwide free-to-play game market and realize profit. He said this move is in line with the Atari’s plan to work more with third-party developers, and to rely less on in-house studios.