Posts Tagged ‘Elevation’

That’s A Lot For An Electric Tricycle…

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.

Oh – interviews on the sale over at Gamespot from Bioware and Gamedaily for Pandemic.