Perfect World acquires Cryptic Studios

Cryptic Studios has been acquired by the Chinese MMO maker Perfect World, reports Gamasutra. According to the report, the company paid approximately $50.3 million for the studio, and acquired a 100% equity interest in Cryptic. Atari had been looking to sell Cryptic recently, having only acquired it in 2008.

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"This strategic acquisition will add attractive game titles to our portfolio, which will help us further penetrate into the U.S. and global online game markets," said Perfect World CEO and chairman Michael Chi. "More importantly, Cryptic Studios' highly reputable development team and its technology platform will further strength our well-established R&D capabilities. We deem this as another noteworthy achievement of our global expansion efforts."

Cryptic is best-known lately for the MMOs Champions Online and Star Trek Online. The studio is continuing development on its next RPG, a D&D-styled game titled Neverwinter.