But enough about really old Your Sinclair Gags which about four people in our readership will get. Electronic Arts has bought Bioware and Pandemic, in an exciting two-for-one offer. Let’s quote the bit about the money, as money is all that matters in our world.
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.
Er… VG Holding group is the kind of corporate structure for Bioware/Pandemic. What’s notable about this deal is that it follows closely from 2005, where Elevation invested 300 million in forming the Bioware/Pandemic partnership in the first place. Hmm.