Chinese MMORPG developer buys Star Trek Online, Champions developer from Atari for $50 million in cash.
Two weeks after Atari announced it was looking to sell off Cryptic Studios, the French publisher has found a buyer. Chinese online game publisher Perfect World today announced it has entered into an agreement to purchase the Los Gatos, California-based developer for €35 million ($50.38 million) in cash. The deal is expected to close soon.
"This strategic acquisition will add attractive game titles to our portfolio, which will help us further penetrate into the US and global online game markets," said Michael Chi, chairman and chief executive officer of Perfect World. "More importantly, Cryptic Studios' highly reputable development team and its technology platform will further strengthen our well-established R&D capabilities."
Founded in 2000, Cryptic is the developer of such massively multiplayer online role-playing games as City of Heroes (now owned by NCsoft), Star Trek Online, Champions Online, and the canceled Marvel Universe Online. In December 2008, the company was bought by Atari for as much as $75 million as part of the publisher's efforts to shift its focus to online games.
However, the middling commercial reception of Champions--which is now free-to-play--and lackluster reviews of Star Trek Online have caused the financially troubled Atari to lose an estimated $25 million over the past two years. Cryptic had also been working on the Dungeons & Dragons-themed online game Neverwinter for Atari, the fate of which is now unclear.
As for Perfect World, the company is best known for its line of free-to-play online games based on Chinese mythology. These include Perfect World, Legend of Martial Arts, Perfect World II, Battle of the Immortals, and Forsaken World.
1 Like Cryptic is the worst gaming company ever created, every year the lose staff and fans for making such terrible games, they even managed to kill the ST franchise they got lol. Give it a couple more years and they will be gone for good. This is a good thing. They dont even own there own games any more, had to sell them on to stop there lol company from closing down.
1 Like @TheTenth10 hmm.. why? because USA will lose all their power to them? Live with it, times change you should have learned from History, it does not matter who the leader is, they are all the same and everything will change once in a while
Sorry but the only thing that will get me to play MMO's is if they're free to play...that's why I'm playing Global Agenda, and why I own Guild Wars.
1 Like PERFECT 2 of the best MMORPG developers will join hands. I can`t wait to see what masterpeaces they will make together. :)
I understand money is good to take, but all should fight against China, them attaining a solid economical level is dangerous for the whole world
SWEET! I play Perfect World and Forsaken World, i know they will bring more good games with this happening! =)
This games own by Asian pp called perfect world from china. Well if they do something better than other company did i guess will be a gd start from perfect world lol
Lol, I don't know how Atari did it but Cryptic just went from one sh*t publisher to another.
I don't get how companies are still willing to spend so much money on MMORPG's doesn't seem like many of them stay around long. Maybe they are more successful then they appear to be.
1 Like When you read things like this and discover just how much money these huge companies are losing over major, licensed material, no less, you have to wonder why. Is it greed, lack of inspired ideas and creativity, or as I have found with many other things in the entertainment industry, making an over-expensive product that panders to the widest audience rather than making art that retains integrity.
I'm hoping the $50 mil included the rights to CO and STO, if not Atari just made off like bandits for Cryptic will owe Atari royalties until the end of time for their two games.
They must be doing something right considering many developers dont find a buyer (bizarre studio's anyone?) I'm glad they found a new owner instead of just disappearing, although being independant would have been just as awesome.
Korean, then French, now Chinese. Cryptic is a globetrotting company. I wonder what Perfect World has in store for them. Using the Cryptic name to sell their products here? Just thought it was a good deal and don't plan any major changes? Can't say that given their recent track record I would have bought them without some master scheme in mind.
Microsoft Games Studios head Shane Kim confirms the ambitious Cryptic-developed 360-Vista massively multiplayer superhero game "has been discontinued."
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