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Electronic Arts, Inc (ERTS)
EA Buys Bioware & Pandemic
EA Buys Bioware & Pandemic
IGN - October 11, 2007
Submitted by Animate (241) at 2:22PM PST on October 11, 2007
"Electronic Arts announced today that it has purchased the holding company that owns BioWare [Mass Effect] and Pandemic Studios [Mercenaries 2].
The acquisition will cost EA about $775 million, which includes a $650 million cash payment to the stockholders of VG Holding Corp., which directly owns the two developers, and an additional $155 million in equity to select VG employees.
As part of the agreement, EA said it plans to lend up to $35 million to the company through the closing of the deal, expected in January. EA will also assume outstanding VG Holding Corp. stock options.
VG Holding is owned by Elevation Partners, which invested $300 million in BioWare and Pandemic in November 2005, creating one of the world's best-funded and largest independent game development houses."
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1Jesse2050 posted on Electronic Arts, Inc (ERTS) at 1:44PM PST on October 13, 2007. RE: EA Buys Bioware & Pandemicbids
2Twitch posted on Electronic Arts, Inc (ERTS) at 9:47PM PST on October 11, 2007. RE: EA Buys Bioware & Pandemicbids
41Animate posted on Electronic Arts, Inc (ERTS) at 2:22PM PST on October 11, 2007. Article: EA Buys Bioware & Pandemic"Electronic Arts announced today that it has purchased the holding company that owns BioWare [Mass Effect] and Pandemic Studios [Mercenaries 2]. The acquisition will cost EA about $775 million, which includes a $650 million cash payment to the stockholders of VG Holding Corp., which directly owns the two developers, and an additional $155 million in equity to select VG employees. As part of the agreement, EA said it plans to lend up to $35 million to the company through the closing of the deal, expected in January. EA will also assume outstanding VG Holding Corp. stock options. VG Holding is owned by Elevation Partners, which invested $300 million in BioWare and Pandemic in November 2005, creating one of the world's best-funded and largest independent game development houses."[ Oracle ] [ Level 26 ] [ Rank: 241 ]
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