The largest combined independent development studio in the world is independent no more. The acclaimed studios will now be subsumed by Electronic Arts and entered into the EA Games fold. This move complements EA's recent strategy emphasizing quality content based upon original IPs. [Update: Mass Effect headed to PS3? Microsoft responds...]In a surprise move, Electronic Arts announced today that it would be acquiring both BioWare Corp. and Pandemic Studios. This deal was reached with Elevation Partners to buy out VG Holding Corp., which owns both development studios. EA will pay up to $620 million in cash and will issue up to an additional $155 million in equity to certain VG Holding employees, while also assuming all outstanding VG Holding stock options and lending VG Holding up to $35 million through the closing of the acquisition.
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