Elevation Closes Gaming Sale

Electronic Arts Inc. (Nasdaq: ERTS) has completed its acquisition of gaming companies BioWare Corp. and Pandemic Studios from Elevation Partners, for around $860 million. Elevation acquired BioWare and Pandemic in 2005 for “more than $300 million,” and put them under a holding company umbrella called VG Holding Corp. EA chief executive John Riccitiello had recused himself from negotiating terms of the deal, as he is a former partner with Elevation. www.ea.com