EA is buying BioWare/Pandemic

Aazealh

Aazealh

Administrator
Staff member
From Yahoo Finance.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Electronic Arts Inc. today announced an agreement with Elevation Partners to acquire VG Holding Corp. -- the owner of both BioWare Corp. and Pandemic Studios. This acquisition gives EA a strong competitive position in key genres in interactive entertainment: action, adventure and role-playing games. The two studios have been recognized for creating some of the highest-quality games in the industry.

BioWare Corp. and Pandemic Studios have ten franchises under development, including six wholly owned games. BioWare Corp. is currently developing the highly anticipated Mass Effect, which will be published by Microsoft in November, and is in the early development stages of a massively multiplayer online game. Pandemic Studios is redefining open-world games with its upcoming Mercenaries 2: World in Flames(TM) and Saboteur(TM), in addition to several unannounced projects.

Pandemic Studios and BioWare Corp. employ roughly 800 people across four studios located in Edmonton, Canada; Los Angeles; Austin; and Brisbane, Australia.

"These are two of the most respected studios in the industry and I'm glad to be working with them again. They'll make a strong contribution to our strategic growth initiatives on quality, online gaming and developing new intellectual properties," said John Riccitiello, EA's Chief Executive Officer. "We also expect this will drive long-term value for our shareholders."

Pandemic Studios is led by Andrew Goldman, Josh Resnick and Greg Borrud. BioWare Corp. is jointly led by Greg Zeschuk and Ray Muzyka. These teams will join the EA(TM) Games Label run by Frank Gibeau, President of EA Games.

"Pandemic Studios remains focused on attracting the best talent and creating blockbuster action games," said Josh Resnick, President and Co-founder of Pandemic Studios. "As a worldwide publishing leader, EA represents the ideal partner to bring our titles to market as global entertainment events."

"We are truly excited by John Riccitiello's new vision for EA," said Ray Muzyka, Co-founder and CEO of BioWare Corp. "This vision is consistent with BioWare's focus on crafting the highest quality story-driven games in the world. It will enable us to further the careers of the passionate, creative and hard working teams at BioWare Edmonton and BioWare Austin."

EA will pay up to $620 million in cash to the stockholders of VG Holding Corp. and will issue up to an additional $155 million in equity to certain employees of VG Holding Corp., which will be subject to time-based or performance-based vesting criteria. EA will also assume outstanding VG Holding Corp. stock options. In addition, EA has agreed to lend VG Holding Corp. up to $35 million through the closing of the acquisition.
Click to expand...

And some more details from GameSpot: http://www.gamespot.com/news/6180818.html
 
Aazealh

Aazealh

Administrator
Staff member
Makes you wonder if there's anything they can't absorb. And makes me worried about BioWare's future beyond the acquisition. I really hope that "new policy" of theirs isn't bullshit because it'd break my heart to see BioWare productions turn into shit.
 
Walter

Walter

Administrator
Staff member
I don't think this necessarily means EA will start bossing established guys like BioWare around just because they hold corporate ownership. Deals like these are generally done nominally just so the two huge, swollen heads of Atari, Activision and EA can butt heads financially.
 
Aazealh

Aazealh

Administrator
Staff member
Walter said:
I don't think this necessarily means EA will start bossing established guys like BioWare around just because they hold corporate ownership.
Click to expand...

Well, they kind of have a history of doing exactly this. Then of shutting down the studios.
 
SaiyajinNoOuji

SaiyajinNoOuji

I'm still better than you
I hope this does not ruin the possibility about the all famous rumor about them re-doing the SWG MMO. Oh god it makes the baby Jesus cry! :judo:
 
Walter

Walter

Administrator
Staff member
I also hope that wacky Sonic RPG developed by BioWare is still in the works. That sounded crazy enough to work.
 
Aazealh

Aazealh

Administrator
Staff member
As far as I know their secret MMO project (and all their other projects, on NDS, Wii and others) are still in the works, but it's too early for EA to start cancelling stuff anyway. The actual acquisition will take place in January I think. But yeah, hopefully EA stays true to its new policy of NOT annihilating the studios they acquire and BioWare can remain badass.
 
C

CnC

Ad Oculos
Well I'm a bit torn on this one. On one hand I don't really like EA, but I know a couple of guys who have worked with them (actually the place I work for is teaming up with them, also know someone who works at Pandemic) and they have made great strides since the "Evil Slave-driver" days.

I haven't played any of Bioware's games (intend on getting Mass Effect, tho), lets hope they're treated well.
 
P

Pencil-smith

Guest
Funny(?) fact :
John Riccitiello used to be the CEO of Bioware/Pandemic. A few months ago Riccitiello left to become the CEO of EA.
I guess he missed his old company and decided to buy it back. :p

So EA didn't take over Bioware. Bioware took over EA. From the inside. :carcus:
 
Aazealh

Aazealh

Administrator
Staff member
Well yeah, assuming John Riccitiello's plans and promises do come true. Then it'd be awesome. That's really the worst I wish them.
 
You must log in or register to reply here.
Top Bottom