Sweden-based Embracer Group agrees to acquire Perfect World Entertainment, makers of Star Trek Online

Embracer Group has agreed to acquire Perfect World Entertainment, publisher of Star Trek Online

DECEMBER 21, 2021 - Heads up, Star Trek Online gamers! Sweden-based Embracer Group, parent company of several groups including Gearbox Entertainment, has acquired Perfect World Entertainment (PWE) in a deal worth $125 million. The announcement was made Tuesday morning, with the sale expected to close in February of 2022.

PWE is a video game developer and publisher for PC and consoles, including PWE Publishing and Cryptic Studios, the latter of which is the developer of Star Trek Online, the long-running officially-licensed massively multiplayer online role-playing game (MMORPG). Cryptic Studios currently operates three longstanding MMOs (Neverwinter, Champions Online and Star Trek Online) with a shared life span of more than 25 years. While PWE suffered operating losses in 2021 due to the cancellation of Cryptic’s planned MMO Magic: Legends and a gap in PWE Publishing’s release schedule, Embracer is confident in its value in part due to its MMO capability and new IP opportunities. 

Under Embracer, PWE (including Cryptic Studios) will continue to operate independently as a subsidiary of Gearbox Entertainment. Gearbox founder Randy Pitchford said of the acquisition, “It's an honor for us to welcome this talented group of individuals into the Gearbox Entertainment family. Gearbox will invest into the future of Cryptic as an independent, dynamic studio that is passionate about MMOs. That commitment is paired with an exciting new partnership that will emerge as the talented Perfect World publishing team and their promising line up of future games will become supported and bolstered by the capability and strength of the Gearbox Publishing team.”

For more on the impact the acquisition might have on Star Trek Online, visit the Star Trek Online forums.