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Last than three years after acquiring Star Trek Online developer Cryptic Studios, Atari is severing ties. Today they announced their intention to divest its stake in the Los Gatos-based studio.

"In line with the previously stated strategy of fewer but more profitable releases and further expansion into casual online and mobile games, the Company has determined that external development creates more flexibility in the changing marketplace," said Atari in their earnings report today.

Gamasutra reports that Atari is looking to sell Cryptic. In the mean time, they'll still support Cryptic MMOs Champions Online and Star Trek Online. Furthermore, Cryptic will continue developing co-op RPG Neverwinter as planned.

Cryptic recorded a $7.5 million loss in the 2010-2011 fiscal year. That's better than the previous year ($17.9 million loss) but still, not a cash cow.

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