I see this as a good example of synergy. Each company excels at something, and by joining forces and maintaining separate focuses, each gets to take the others intellectual property in new directions. CCP is flush with money, 130K (as cited earlier in the thread) subscribers X 14.95/month fee = $1,950,000 per month. Thats a nice stack of bills!
What CCP brings to the table
CCP is a strong and independent studio who has great experience developing a non-standard MMORPG game. They have learned many lessons in the past few years, and are an exception in a MMO market where games usually decline after their second year. EVE has not peaked yet, and continues to innovate. This is a good thing.
CCP holds the technical experience to develop and launch a successful MMORPG that does not follow the standard path. Now it's time to expand and do a second game. This only makes sense as they can garner a second set of customers and extend profits while they try something new. Obviously it's foolish to do another space game. Equally foolish would be to try to do a standard fantasy MMORPG -- that's a crowded space already. Why not find an intellectual property that is strong enough to work in tabletop RPG's, LARP's, film (Underworld), TV, and computer RPG's.
What White Wolf brings to the table
White wolf is a strong and independent RPG game maker with a very popular setting, lots of experience in making RPG's, and a need for new settings to expand on their audience. Moreso than any other RPG company, WW has managed to not only make their own claim for space in the RPG marketplace, but also totally own that space such that others immitate them. White Wolf knows RPG's.
Nobody has done an overtly successful space based RPG in years -- if ever depending on who you ask. 40K rules the miniatures scene, but few get together to roleplay. Traveller, Star Fronteirs, Alternity, Gama World, and more all have come and gone but never really delivered a Sci-Fi experience to a large audience. Cyberpunk/Shadowrun both go in directions outside the core Sci-Fi ethos and Star Wars and Star Trek games are a license that WW isn't likely to get. Grabbing onto an established space licence with over 100K fans is a good thing for White Wolf -- check how many products many indy publishers sell and the numbers add up to good.
How it all comes together
CCP develops a World of Darkness MMORPG. If we are lucky they stay with the lessons of EVE and create a game in which organizations matter, territory matters, and the conflict and economy are intertwined. It's not a game where you kill rats and then kill bigger rats in dragon skins. EVE is a very complex game done well, and the World of Darkness will need the same kind of treatment, as a WoD MMORPG where you kill monsters and gain EXP will not do the title justice. Meshing the setting that needs more attention with a developer known to give superior attention to a unique game concept and you have a winner.
An EVE game? Sounds great to me! It's a unique setting with complex narrative opportunities. Further, the mythos is well established and the 'story' hooks a GM can grab from the player stories within the game are great. Lots of compelling reasons to adventure in such an RPG, and also equal options to do LARP's in the EVE setting...
It's a great fusion of two good companies who know how to deliver the goods in their own niche -- and (on paper here) have agreed to share resources but stick with what they are good at. That's a good thing.
The power of numbers
Then there is the fact that each half of the larger company will feed the other 'new users' through the projects. If even just 10% of the EVE Players discover the WoD RPG's, and a similar number of RPG players jump into EVE -- the company wins.
I'm very excited. White Wolf now has access to more cash than ever, and their licenses will only grow stronger...
Mind you, I've never played EVE beyond a simple peek or two -- and the last time I played Vampire it was 1992. I just see a very good business opportunity here for both companies -- one that rewards the fans.