EA's friendly buyout

12 Oct 2007

Game maker Electronic Arts bought another game maker, Bioware for $850 million.

Bioware was funded by Elevation Partners, and EA’s CEO was a former partner at Elevation. So the investor leaves and takes a CEO job with a public company and 8 months later buys one of his former investments.

Paul Kedrosky says,

Nothing like friends buying friends from friends, which is one reason why the Valley works, and most other would-be Valleys don’t. It’s not enough to have great technology, capital, and smart people; you also have to friends buying from friends. Seriously.

Another vote for the startup hub theory.

Lijit Search

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