Pearl Abyss sells CCP back to its CEO for less than half what it paid, plus $20 million in crypto
Pearl Abyss has divested from CCP Games, selling the EVE Online developer back to its CEO Hilmar Veigar Pétursson for $100 million in cash and $20 million in blockchain-based “token acquisition rights.” The sale marks a significant exit for Pearl Abyss, which acquired CCP for substantially more eight years ago—$225 million in cash plus $200 million in performance-related payouts totaling $425 million.
The token component is believed to relate to Eve Frontier, CCP’s blockchain-based survival game spin-off currently in development. Eve Frontier raised $40 million in 2023 in a funding round led by crypto-focused venture capital firm Andreessen Horowitz.
The transaction represents Pearl Abyss’s exit from owning the legendary EVE Online franchise and signals a strategic realignment for the Korean developer, which is focused on its own projects including the upcoming Crimson Desert. The deal allows CCP to return to independent ownership under its founder-CEO, while Pearl Abyss reduces its international gaming portfolio.