Monday, January 7, 2008

EA Completes Bioware, Pandemic Studios Acquisition

Redwood City-based Electronic Arts said Monday that it has completed its acquisition of VG Holding Corp., the firm behind BioWare Corp. and Pandemic Studios. According to EA, Frank Gibeau of EA Games will oversee the studios; Ray Muzkya and Greg Zeschuk of Bioware are now VP and General Managers of the unit; and Andrew Goldman and Josh Resnick of Pandemic are also now VPs at EA and are General Managers of Pandemic. According to Electronic Arts, Greg Borrud is now Vice President of EA and Chief Production Officer of Pandemic Studios. Electronic Arts paid $860M to Elevation Partners in the acquisition, which was announced originally in October last year. Elevation is the private equity firm run by Roger McNamee and U2's Bono.