"White Wolf possesses the RPG industry's leading offline gaming talent and some of the most recognizable roleplaying properties in the world," said CCP CEO Hilmar Petursson. "Virtual worlds are a new form of entertainment, separate from traditional computer games. By combining forces, we will create a company unsurpassed in quality, innovation, and scope which will keep us at the forefront of this emerging trend." In addition to the planned cross-medium development, both sides of the company will continue to maintain their own existing product lines. Reykjavik-based CCP's EVE Online currently boasts a subscriber base of over 300,000.

Petursson will serve as CEO of the newly formed corporation. White Wolf president Mike Tinney will remain in his position as president of the White Wolf subsidiary. Financial terms of today's announced deal were not disclosed.

Update: Speaking to Shacknews, White Wolf marketing director Kelley Barnes-Herrmann touched on some of the factors behind the merger of two seemingly disparate companies.

CCP and White Wolf first came in contact during Gencon 2005 when CCP was looking for a publisher for its EVE collectible card game. "Because of our history in managing the award-winning V:TES CCG, White Wolf was able to make suggestions and provide some initial guidance to CCP in the first stages of the game launch and now we are looking forward to working on the first expansion set in 2007," said Barnes-Herrmann. At that point, the two companies began developing a close friendship and discussing multiple projects.

"We see the diversity in experience and product focus as a natural fit," explained Barnes-Herrmann, responding to questions regarding the compatibility of the two firms. "Each company brought assets into the merger that will fill a development need in the other company."