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Atari has sold off Cryptic Studios, the maker of online games such as Star Trek Online, to China’s Perfect World. Perfect World is paying 35 million euros, or $49.8 million in cash.

The deal is another sign of the times: cash and stock-rich Chinese online game companies are flexing their muscles on the world stage of the video game market. Beijing-based Perfect World operates a number of its own massively multiplayer online games. The deal is subject to closing conditions.

Michael Chi, chairman and chief executive of Perfect World, said the strategic acquisition will add attractive game titles to the company’s portfolio and help further penetrate into the U.S. and global online game markets. He said he had a lot of respect for the development team and technology platform that Los Gatos, Calif.-based Cryptic has developed over the years.

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