The Chinese company Perfect World announced a deal with the creators of MONOPOLY GO! It has agreed to sell Scopely the assets of Chengfeng Studio.
MONOPOLY GO!
According to the terms of the agreement, all of Chengfeng Studio's game assets, studio documents, and office equipment, including computers, will go to Scopely. Scopely will pay $34.5 million for this.
Upon completing the sale, most of Chengfeng Studio's employees, including its core team, will leave the studio and start their own company. Like Chengfeng Studio, it will be based in China. Scopely will hold a minority stake in the newly formed company.
The reason Perfect World decided to make this deal is not disclosed. It might be due to financial issues within the company. In recent quarters, Perfect World has reported declining revenues: notably, for July-September 2024, its revenue fell by 24.36%, and its net profit for shareholders plummeted by 190.27%. During the summer, as part of cost-saving measures, Perfect World conducted major layoffs, reportedly cutting several hundred employees.
Chengfeng Studio was founded in 2020. It was working on a game codenamed PIE (代号 PIE).