November 03, 2005
Elevation Buys into Bioware and Pandemic
Elevation, a $1.9 billion venture capital firm, bought a $300 million stake in BioWare and Pandemic. Elevation is led by U2's Bono, John Riccitiello (former President of EA), and Fred Anderson (the ex-CFO of Apple). John will be CEO of the new company and the co-founders of the studios will become shareholders and senior executives.
Pandemic is known for making Full Spectrum Warrior for THQ. And Bioware is famous for Jade Empire and great old RPG computer games. Earlier in the year, Elevation tried to buy Eidos, but was eventually out-bid by Sci.
