14 DAY TRIAL // We're witnessing tumultuous times in the gaming industry lately, as Microsoft and Bungie have recently announced their parting from one another and now this. According to a press release rolled out as soon as today, Electronic Arts has signed with Elevation Partners to get their mitts on VG Holding Corp, owners of both BioWare Corp. and Pandemic Studios. It begs the question: is Mass Effect becoming a multiplatform franchise?
Not that everything EA gets its hands on goes multiplatform, but every game series tends to go in that direction sooner or later and with EA at the helm now, BioWare's upcoming RPG might just see some changes. Pandemic's also has an upcoming title now moving under EA's protective wings, Mercenaries 2: World in Flames. Whatever happens, it sure looks that folks over at Pandemic and BioWare are pretty happy of being engulfed by the giant publisher and developer of video games:
"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."
"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."
According to the same report, EA will pay up to $620 million in cash to VG Holding Corp. stockholders, while issuing 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 been more than reasonable in signing the acquisition, also agreeing to lend VG Holding Corp. "up to" $35 million through the closing of the deal.
"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."
So it's official then: EA acquires BioWare and Pandemic. Sometime ago, EA tried taking over Ubisoft, but had little success. What are they, trying to conquer the world or something? No, probably just the video games market.