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EA Buys Game Studios from Bono's Firm

By BetaNews Staff, BetaNews

October 12, 2007, 2:32 PM

The private equity firm backed by U2 frontman Bono, which recently invested $325 million into Palm, has received a hefty return on its $300 purchase of game developers BioWare and Pandemic. EA has agreed to acquire the two studios from Elevation Partners, with 10 games in development, for $620 million in cash and another $205 million in stock.

The total price of $825 million is EA's largest acquisition yet, and the company says the deal will boost its market share in multiplayer online games by two percent. Interestingly, Elevation Partners founder John Riccitello was a former EA exec who rejoined the company as its CEO in April. Riccitello, who retains a stake in Elevation, did not vote on the deal but did endorse it.

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By Michael.Hatamoto

posted Oct 12, 2007 - 8:16 PM

I've heard nothing but doom and gloom from a lot of gamers, but I am actually a bit optimistic about seeing if EA can persuade gamers to show the company a bit more faith down the line.

Maybe I am overly optimistic only because I like Pandemic and BioWare...

Score: 0

By PC_Tool

posted Oct 12, 2007 - 7:27 PM

, has received a hefty return on its $300 purchase of game developers BioWare and Pandemic.

That can't be right. $300???

Score: 0

By codan3

posted Oct 14, 2007 - 4:03 PM

No, it's supposed to be $300 million.

Score: 0

By ingram091

posted Oct 12, 2007 - 4:19 PM

EA infects yet another game franchise. Guess those games are now doomed to the same dull uninnovative practices and policies that EA tends to bring to every company they strong arm into selling out...

EA has no care for the gamers or what they want in a game, never has... all they care about is the wow factor on graphics, gameplay be dammed...

This is a huge disappointment...

Score: 0

By imafurby

posted Oct 12, 2007 - 4:16 PM

Maybe Bone o' head can give some of that loot to Africa instead of trying to make us all pay for someone else's lack of self control.

Score: 0

By billweh

posted Oct 12, 2007 - 5:25 PM

Nah - he'll probably use it to redecorate his mansion on the French Riviera.

Score: 0

By mishihu

posted Oct 12, 2007 - 3:16 PM

Wow. I wish I was fortunate enough to get a $825 Million return on a "$300 purchase". Sweet.

Score: 0

By DZNetworks

posted Oct 12, 2007 - 3:15 PM

Wow Bono was into games? Who knew?

Score: 0

By SGD

posted Oct 12, 2007 - 2:50 PM

EA soon to ruin an other good company. This really is a shame.

Score: 0

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