CCP Games officially rebranded as Fenris Creations, marking a major shift in ownership and governance after years under Pearl Abyss, the South Korean game developer that acquired the Icelandic studio back in 2018.

The split was mutual. Both companies reviewed their long-term strategies and agreed that Fenris Creations would be better off as an independent entity. Pearl Abyss will now focus on its own titles and IP, while Fenris Creations moves forward on its own terms. The transaction is valued at $120 million USD, made up of both cash and non-cash components, as disclosed in Pearl Abyss’ regulatory filings.

Fenris Creations is now run by its own Board of Directors, a setup similar to how CCP Games operated before the Pearl Abyss acquisition. The ownership group is made up of senior management and long-term investors. Birgir Már Ragnarsson, Co-founder and Partner at Omega Ventures, has been named Chairman of the Board.

Alongside the ownership change, Fenris Creations announced a research partnership with Google DeepMind. The collaboration will focus on studying intelligence in complex, dynamic systems, with EVE Online serving as the research environment. Topics include long-horizon planning, memory, and continual learning.

The rebrand comes at a strong moment for the company’s flagship game. EVE Online wrapped up 2025 with some of its best numbers in years, including a record-breaking revenue month in November. The fourth quarter of 2025 ranked as the second-highest revenue quarter in the game’s more than 20-year history. Overall, Fenris Creations reported over $70 million in revenue for 2025 and remains profitable.

Two new titles are also in development: EVE Vanguard, described as an extraction-adventure FPS, and EVE Frontier, an online space survival game. CEO Hilmar Veigar Pétursson said the new structure gives the company “direct ownership, clear accountability, and the independence to invest in worlds that grow over decades,” while also thanking Pearl Abyss for their support over the past seven and a half years.