Fenris Creations Regains Independence in $120M Sale

Fenris Creations, the Icelandic studio formerly known as CCP Games and best recognized for the MMORPG EVE Online, announced on May 6, 2026, that it has regained independence through a 120 million dollar sale from South Korean publisher Pearl Abyss to its senior management and long-term investors.

The transaction, which included both cash and non-cash elements, followed a joint strategic review that identified differences in operating contexts, strategic focuses, and long-term priorities between the two companies. Pearl Abyss had acquired CCP Games in 2018 for approximately 425 million dollars. Fenris Creations will now operate as a standalone entity governed by its own board of directors, a structure similar to its pre-2018 model designed to support decision-making for persistent live games and player-driven virtual worlds. Birgir Már Ragnarsson, co-founder of Omega Ventures, has assumed the role of board chairman.

CEO Hilmar Veigar Pétursson emphasized that the transition involves no layoffs, office closures, or organizational changes. The company's headquarters will remain in Vatnsmýrin, Iceland, with studios in Reykjavík, London, and Shanghai continuing operations unchanged....