BioWare is a video game production company based in Edmonton, Canada. Founded by three doctors, the company was bought buy Electronic Arts (EA) for $860 million in October 2007.Joystiq: EA to acquire BioWare Corp. and Pandemic Studios(October 11, 2007) The sale is between Electronic Arts and VG Holding Corp. (VGH), which encompasses BioWare Corp. and Pandemic Studios.CNNMoney: EA to pay $860M for rival game maker (October 11, 2007) EA will pay $620 million in cash and another $155 million in equity to "certain employees."Joystiq: EA to acquire BioWare Corp. and Pandemic Studios(October 11, 2007)
References
Fast Facts
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Established
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HQ
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Founders
Ray Muzyka, Greg Zeschuk, and Augustine Yip
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Fact:
Subsidiary of Electronic Arts
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Electronic Arts Stock Symbol
ERTS, NASDAQ
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Deal Structure
$620 million in cash, $155 million in equity, VG Holdings stock options valued at around $50 million and a $35 million loan to VGH
