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Rival Ubisoft

Electronic Arts Completes Purchase of 20% Stake in Rival Ubisoft

Authored by Mark Hefflinger on February 3, 2005 - 3:25am.
Redwood City, Calif. -- Video game publisher Electronic Arts announced on Thursday that it has completed its previously announced purchase of 3.5 million shares of French publisher Ubisoft, for a price of about $89 million. Ubisoft executives had previously said it had held no talks with Electronic Arts, and considered the purchase of a 20% stake as "hostile." Separately, Redwood City, Calif.-based Electronic Arts announced that it has signed NASCAR driver Ryan Newman to serve as spokesman and appear on the cover of its "NASCAR SimRacing" PC title. EA Tiburon developed the game, which will ship to retailers on Feb. 15.
tags: Electronic Arts | Stake | Purchases | Rival Ubisoft |