11-04-2005, 07:06 PM
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Senior Member
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Join Date: Nov 2005
Posts: 108
Rep Power: 233
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Bioware and Pandemic to Merge
Quote:
Two of the world's top games developers are to merge, it has emerged (haha). RPG specialists Bioware (Neverwinter Nights, Knights of the Old Republic) and Pandemic (Full Spectrum Warrior) will become one as part of a new deal crafted by Elevation Partners. Elevation are a venture capital firm, headed by former EA boss John Riccitiello and featuring the likes of U2 frontman Bono as directors. The 300 million USD deal will see Riccitiello becoming CEO of the "Bioware/Pandemic Studios" holding company. The developers existing chiefs will become senior executives of the new firm, apparently.
The developers operations in Edmonton, LA and Brisbane will all remain fully operational, a statement informs us, with no job cuts announced. Indeed, the company's 400-strong workforce will apparently all receive shares in the new firm. Elevation failed this year in a bid to purchase Eidos Interactive, after SCI beat them to the punch with a more valuable share-based deal. Despite the merger, the company is so far denying any intent to become a publishing force, and will continue to work with larger partners like THQ and Microsoft in this respect.
Quite what the result of this deal will be then, remains to be seen - especially as no jobs have been axed in cost-saving measures yet. We'll keep you posted.
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http://www.ferrago.com/story/6825
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