EA to acquire BioWare Corp. and Pandemic Studios (joystiq.com)

[7th lutz]

http://www.joystiq.com/2007/10/11/ea...demic-studios/

Monolithic publisher EA has today announced an agreement with Elevation Partners to purchase VG Holding Corp -- a move which sees EA becoming the owner of both BioWare Corp. and Pandemic Studios. A shocking move to be certain, but one that should make complete sense to a publisher looking to strengthen its lineup of role-playing games and action titles. BioWare, currently finishing development on November's Microsoft-published Mass Effect, has proven itself to be one of the leading developers in the genre, and Pandemic Studios' Mercenaries franchise has shown an alarming propensity for blowing things up.

The purchase will cost EA up to $620 million in cash payment to the stockholders of VG Holding Corp., with another $155 million in equity going to "certain employees" of VG Holding Corp., "subject to time-based or performance-based vesting criteria." Ray Muzyka, Co-founder and CEO of BioWare Corp, thinks it's money well spent. "This vision is consistent with BioWare's focus on crafting the highest quality story-driven games in the world," he says. "It will enable us to further the careers of the passionate, creative and hard working teams at BioWare Edmonton and BioWare Austin."

[FantasiaWHT]

Man... dizzying heights followed by horrific lows... is this October 28, 1929? (Black Monday stock market crash)

SONIC'S IN SSBB!!!!!!!!!

ssbb isn't coming out until February....

The EA pimps buy out a ring of high-class courtesans and shove them on the streets to peddle STDs and drugs.

God damn could the day get any lower?

[Poofta!]

oh man, that sucks. i have a feeling Bioware will go the way of Interplay/Black Isle now...

call it whatever, but im so tired of seeing the fecal matter that is EA in my games.

[Damaramu]

Wow. A buddy of mine works for Pandemic. I should call him up and get the DL on this.....hope he didn't get laid off!

[heybtbm]

Booooo!

The thought of EA in control of the Mercenaries franchise makes me sick.

[Damaramu]

Just chatted with my friend. He said that it's not "a take over" and left it at that. He could not divulge the details of the deal, but he's hoping it doesn't affect his compensation bonus next year. He thinks EA is a "shady company". lol