Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 12 October 2007 13:33

EA to acquire Bioware and Pandemic Studios

Written by David Stellmack

Image

Deal worth $855 million


 

Electronic Arts, Inc., the world's largest video games publisher, has announced that it will acquire video game studios, BioWare Corporation and Pandemic Studios, both privately held companies that have been partners with EA under a deal with VG Holding Group with backing from private equity firm, Elevation Partners. Elevation's investment team also includes U2 group singer, Bono, and Fred Anderson, a former Chief Financial Officer of Apple, Inc.

BioWare is the creator of critically acclaimed role-playing games, such as “Star Wars: Knights of the Old Republic" and its eagerly awaited sci fi game, "Mass Effect," is being published next month by Microsoft Corporation.  Pandemic is the creator of military themed action and first person shooter games such as “Star Wars Battlefront” and “Full Spectrum Warrior” and has in development a new game for THQ known "Destroy All Humans 2."  Both of these video game studios will add a niche to EA that was not there previously.

EA issued a statement that it has plans to release four or five games per year from these studios in the upcoming fiscal years for 2009-2011.  EA reportedly will pay $655 million in cash and $150 million in equity incentives that are tied to performance, for a total of $855 million; EA will also assume $50 million in stock options issued by VG Holdings.  EA has reported that it the addition of these two game creation studios could also boost EA's revenue by more than $300 million in 2009-2010.

Pandemic and BioWare employ nearly 800 employees in four studio locations in Edmonton, Alberta, Canada; Los Angeles, California; Austin, Texas; and Brisbane, Australia.

The deal is expected to close in January 2008.

Read more here.


Last modified on Friday, 12 October 2007 13:59

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments