12:54 PM
Atari has completed its sale of Cryptic Studios to Chinese MMO developer Perfect World Entertainment, bringing in a reported €35 million. Atari had effectively put the California studio on hold after announcing it was looking to dispose of it last March.
Since then, Cryptic (developers of Champions Online and Star-Trek Online) has been in a state of limbo with Atari continuing to provide minimal support to keep its popular online game environments online.
Atari will use the proceeds of the sale to write down debt and help fund its move further into mobile and social gaming markets and increase its drive to ramp up licensing revenue and protection of its historical brands and trademarks.
Players of the two affected online games will see their Atari tokens converted to Cryptic points as well as changes to terms and conditions.
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