On September 6, 2018, Pearl Abyss Corp. (“Pearl Abyss”) acquired CCP ehf. (“CCP Games”), an Icelandic video game developer, for approximately KRW 252.5 billion. 

CCP Games developed “Eve Online,” which boasts more than 40 million subscribers worldwide.  As a homegrown Korean game developer, Pearl Abyss’ successful acquisition of a global player in the gaming industry exemplifies the expansion of Korean game developers in the global market.

Our Representation:

As CCP Games had a number of subsidiaries around the world, Kim & Chang conducted extensive due diligence on the target’s intellectual properties (deemed the most important asset of game developers) as well as on financial and tax issues, while consulting local law firms and the Bank of Iceland to address local requirements.  Since CCP Games’ shares were held by a number of minority shareholders, our firm provided tailored and strategic advice on the transactional documents so as to secure Pearl Abyss’ control over the management of CCP Games.  With extensive experience in advising domestic companies in acquiring foreign companies, Kim & Chang successfully navigated Pearl Abyss throughout the transaction to successfully close the deal.