After being sold by Pearl Abyss, CCP Games has rebranded itself as Fenris Creations

Image credit: Fenris Creations

The gaming studio behind Eve Online has undergone a transformation, becoming Fenris Creations following its sale by Pearl Abyss. This $120 million transaction allows the studio, formerly known as CCP Games, to operate independently. Key aspects such as leadership, studios, and product development are untouched, ensuring no staff reductions or organizational changes.

The company's headquarters will remain in Vatnsmýrin, Iceland, with its studios in Reykjavík, London, and Shanghai continuing their current operations.

Fenris Creations has initiated a collaboration with Google DeepMind, as part of which Google has acquired a minority stake. This partnership aims to delve into the intricacies of intelligence in dynamic systems, focusing on areas such as long-term planning, memory, and continuous learning.

An offline version of Eve Online will be utilized by Google DeepMind for controlled experiments and model evaluation. Fenris Creations aspires to innovate gaming experiences through this collaborative effort.

Earlier discussions this year shed light on the use of AI in the development process by Fenris Creations' team.

"This transition provides us with direct control, unambiguous accountability, and the independence to invest in expansive worlds," stated Fenris Creations CEO Hilmar Veigar Pétursson. He expressed appreciation for Pearl Abyss's partnership over the past years, attributing Eve Online's existence to forward-thinking and developer-player trust. The new company structure and partnerships will allow the legacy of Eve Online to thrive into the future.

Demis Hassabis, CEO and co-founder of Google DeepMind, shared his enthusiasm for collaborating with Hilmar Pétursson and the Fenris team, highlighting the potential to further game development and AI research within the intricate universe of Eve Online.

Pearl Abyss, known for its game Crimson Desert, divested CCP Games back to CEO Pétursson for $100 million in cash along with a $20 million cryptocurrency component.

Originally, CCP Games was acquired by Pearl Abyss in 2018 for $225 million in cash, with an additional $200 million linked to performance metrics.

A representative from Pearl Abyss explained that the sale price took into account CCP Games' current business standing and market situations. While the initial acquisition aimed to broaden Pearl Abyss's portfolio and secure global intellectual property, shifts in the gaming market and company priorities influenced the decision to sell.