EA Completes Acquisition of BioWare and Pandemic Studios

Authored by Mark Hefflinger on January 7, 2008 - 11:08am.

Redwood City, Calif. - Electronic Arts (NASD: ERTS) said on Monday that it has completed its acquisition of VG Holding Corp. -- the owner of both Canada-based BioWare and Los Angeles-based Pandemic Studios.

The acquisition strengthens EA's offerings in the role-playing, action and adventure game genres.

BioWare and Pandemic Studios have ten franchises under development, including six wholly-owned games.

Frank Gibeau, president of the EA Games label, will oversee the studios within his organization.

Under the deal, first announced in October, EA agreed to pay up to $620 million in cash for VG, as well as up to an additional $155 million in equity to certain employees.