In Brief:
- CCP Games, known for EVE Frontier, has become independent again following a management buyout from Pearl Abyss.
- Pearl Abyss sold CCP to CEO Hilmar Veigar Pétursson for $100 million in cash and $20 million in EVE Frontier tokens.
- The move comes as Pearl Abyss seeks to offload a financially underperforming asset amidst its success with other titles like Crimson Desert.
CCP Games becomes independent
CCP Games is now an independent company after its CEO, Hilmar Veigar Pétursson, completed a management buyout from Pearl Abyss for $100 million in cash and $20 million in EVE Frontier tokens. The deal follows a series of financial struggles, with CCP facing annual losses, including $19 million in 2024, prompting Pearl Abyss to shed the developer despite its original $225 million acquisition in 2018.
Pearl Abyss has endured difficulties expanding CCP’s contributions to its portfolio. Meanwhile, the South Korean publisher’s other games, specifically Crimson Desert, have achieved considerable success, which likely influenced its decision to divest from CCP. In recent years, Pearl Abyss provided $50 million to support CCP Games’ operations, indicating the financial strain the developer was under.
The development of EVE Frontier benefits from $40 million secured from investors like a16z and Bitkraft, who are invested in the game via token allocations. Alongside titles like EVE Online and the upcoming EVE Vanguard, set to launch in Q3 2026, CCP has made a significant commitment to research and development, including the open-sourcing of its Carbon tools.
Despite the positive trajectory of these initiatives, key issues surrounding the buyout remain unanswered, including the funding source for the deal, CCP’s post-acquisition operational budget, and the status of the $50 million debt owed to Pearl Abyss. The buyout is scheduled to be finalized on May 6, just before the annual EVE Fest kicks off on May 14.
