In July 2008, the company was acquired by Crytek, which then sold it to Creative Assembly (a studio of Sega) in March 2017.

Black Sea Studios was founded by Vesselin Handjiev, the lead designer of Tzar: The Burden of the Crown, on 7 May 2001 in Sofia, Bulgaria.

[2] The company became known for its 2004 title Knights of Honor, a historical real-time strategy game released for Microsoft Windows, and for the 2008 science fiction real-time strategy title WorldShift.

At the time, Black Sea Studios was based in Sofia, Bulgaria, with Vesselin Handijev was managing director.

[15] On 23 May 2023, Total War: Pharaoh, focused on the New Kingdom period of Ancient Egypt, was announced, with Creative Assembly Sofia's Todor Nikolov as Game Director.