Following its acquisition last year of the North American branch of Perfect Worlds by Embracer and its subsidiary Gearbox, the firm announced Thursday that Perfect World Entertainment (PWE) is to be renamed as Gearbox Publishing.
PWE’s team and the projects they are developing, such as Neverwinter, Star Trek Online, and Have a Nice Death, won’t be stopped as a result.
Founded in 2004, Perfect World covers film and television, games, e-sports, cinema, animation and other business sectors. Perfect World Games, listed on the Nasdaq in July of 2007, is the first gaming company in China to research 3D game engines. Its products are exported to more than 100 countries and regions.
In December 2021, industry giant Embracer Group entered into an agreement to acquire 100% of shares in Perfect World North America Corporation and Perfect World Publishing B.V. (collectively Perfect World Entertainment), from Perfect World Europe B.V.
The purchase price for the acquisition comprises a one-time payout of $125 million, divided into $60 million in cash and $65 million worth of B shares in Embracer, subject to considerations and adjustments at closing.
With 237 full-time employees, PWE is a video game developer and publisher for PCs and consoles, including PWE Publishing and Cryptic Studios. Upon completion of the transaction, PWE will operate within Embracer Group as a subsidiary of Gearbox Entertainment, with a continued focus on publishing and creating games.