BioWare and Pandemic Studios Combine Forces (News)

Funky Zealot, GamePro

17/11/2005 10:12:01

Private equity firm Elevation Partners has announced a creative and management partnership with Pandemic Studios and BioWare, creating one of the largest independent game development groups in the world. With a transaction value of more than US$300 million, Bioware/Pandemic Studios will have two co-founders from each company to shareholders and senior executives. Under terms of the deal, employees also get an ownership stake in the new business alliance.

"Great video games don't roll off the assembly line - they are an art form, as lovingly crafted as a film, musical score, or novel," said Greg Zeschuk, joint CEO of BioWare Corp. "That means taking the time to nurture top talent, then letting that talent work its magic. Fans are the real winners in this deal, because we will now have the resources and creative discretion to make the right decisions for our products. This is truly a new way of doing business."

All studios and teams will remain intact in their respective cities (BioWare in Edmonton, Canada; Pandemic in Los Angeles and Brisbane, Australia), and both companies plan on expanding to "rapidly support new game consoles." Despite the mega infusion between the two companies, they will still maintain partnerships with publishers.

"This is still very much a collaboration with our publishing partners. We will continue to innovate and deliver top-quality hit games and they will continue to transform that creativity into blockbuster titles," said Andrew Goldman, Pandemic Studios' CEO.