Electronic Arts Buys Bioware
EA has announced an agreement with Elevation Partners to acquire VG Holding Group, a move that would net them both BioWare and Pandemic Studios. The BioWare title Mass Effect is due for release in November; Pandemic's Mercenaries 2: World in Flames is scheduled for a February release.Why is this important for us? It means that Electronic Arts once again has a studio in Austin, TX - a studio co-run by Rich Vogel, one of the leads on the Privateer Online!EA will hand over as much as $620 million in cash to VG Holding Group stockholders, and will issue an additional $155 million in equity to certain key members of VG Holding. The transaction is expected to close in January 2008.
Pandemic president and co-founder Josh Resnick called EA "the ideal partner to bring our titles to market as global entertainment events," while BioWare's CEO Ray Muzyka said that "John Riccitiello's new vision for EA...is consistent with BioWare's focus on crafting the highest quality story-driven games in the world."
Follow or Contact Us