It’s been less than a month since Atari announced its plans to sell off Cryptic in favor of less expensive mobile gaming, and it looks like Cryptic already has a buyer, though the deal has yet to be finalized.
Chinese MMO company, Perfect World, purchased Cryptic for a reported $50 million, almost double what Atari paid back in 2008. Perfect World CEO, Michael Chi, stated that the purchase would aid his company’s emergence in the US market while at the same time strengthening both their portfolio and R&D Teams.
Overall it seems like a good deal for Cryptic, and it proves that they are still a viable company with a lot to offer. It wouldn’t be the first time Atari made a bad move, considering the sharp increase in earnings displayed by Cryptic last cycle(even though they still lost $7.5 mil) and the projected profits for this coming fiscal year.
As long as Cryptic stays clear of China’s infamous source code disclosure laws, it should be maximum warp to profits.
Source: Develop via Trek Today
Source: Develop via Trek Today
No comments:
Post a Comment