Atari sells Cryptic for $50 million

Star Trek Online and City of Heroes developer Cryptic Studios, recently put up for sale by parent Atari, has been picked up by China’s Perfect World. The price tag associated with the deal is said to be €35 million ($49.8m).

Perfect World, which operates its titles mostly in China, will use the acquisition to “further penetrate into the U.S. and global online game markets.”

Says Michael Chi, Chairman and Chief Executive Officer of Perfect World: “Cryptic Studios’ highly reputable development team and its technology platform will further strengthen our well-established R&D capabilities.  We deem this as another noteworthy achievement of our global expansion efforts.”

Atari announced it was looking to unload the developer just a few weeks ago.