News: Electronic Arts pays $860 million for BioWare, Pandemic Studios
Posted: October 11, 2007 05:39PM
- The silicon valley-based games designers, EA, creator of such games as the Medal of Honor and Battlefield series, has slipped in the gaming ranks over the past couple of years. To get back on top, EA is willing to pay a pretty penny in the tune of $860 million. EA has agreed to acquire VG Holdings, the parent company to BioWare and Pandemic Studios, in an attempt to regain its former status in the gaming industry. This is reported to be one of the largest capital expenditures in EA's 25-year history. EA is hoping to use Pandemic's upcoming Mass Effect game to regain the #1 spot from Activision, who recently overtook EA for the first time in 10 years with its Guitar Hero.