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EA To Acquire BioWare and Pandemic StudiosMaking headlines today, Electronic Arts has announced plans to acquire VG Holding Corp, the owners of BioWare and Pandemic Studios. The deal will see EA fork over $620 million in cash, $155 million in equity and lend VG Holding up to $35 million through the closing of the acquisition. Here's a little snippet from the press release: "Pandemic Studios remains focused on attracting the best talent and creating blockbuster action games," said Josh Resnick, President and Co-founder of Pandemic Studios. "As a worldwide publishing leader, EA represents the ideal partner to bring our titles to market as global entertainment events." "We are truly excited by John Riccitiello's new vision for EA," said Ray Muzyka, Co-founder and CEO of BioWare Corp. "This vision is consistent with BioWare's focus on crafting the highest quality story-driven games in the world. It will enable us to further the careers of the passionate, creative and hard working teams at BioWare Edmonton and BioWare Austin." No word on how the acquisition will effect the two studios. Let's hope it's in a positive way!
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