Electronic Arts tried but failed to purchase Valve for around $1 billion recently

9/11/12 11:00am

According to the New York Times, EA has made several recent attempts to buy out Valve with the most recent offer being around $1 billion.

"Electronic Arts “would very likely have valued Valve at well over $1 billion had the talks progressed that far,” according to the article. This was based on statements made by a couple of people familiar with the negotiations who spoke on condition of anonymity."

Valve has reportedly rejected the offers with the reasons being they are currently happy with their status as a small privately-owned company and EA not coming anywhere close to the actual value of the company which is estimated to be around $2.5 billion.

According to Gabe Newell, the company also thinks had a deal been reached, EA would just terminate the company in a couple of years while keeping the sole rights to all the IPs owned by Valve. Newell would rather have the company shut down than be bought out if the choice was ever to be realistically made. Gabe Newell has said:

“It’s way more likely we would head in that direction than say, ‘Let’s find some giant company that wants to cash us out and wait two or three years to have our employment agreements terminate.”

New York Times source

» Source: http://www.rantgaming.com/2012/09/10/new-york-times-electronic-arts-sought-to-buy-valve-for-at-least-1-billion/
» Tagged In: #Buyout, #community showcase, #EA, #merger, #NY Times, #steam, #valve

More wicked cool stories and video from around the web. Got tips for us? Tips@ScrewAttack.com

g1 DISCUSSIONS

kohlis

May 7, 2013 - 4:55am

Simple, useful and very Interesting Post. Keep it up.

natural supplements

kohlis

May 7, 2013 - 4:09am

My partner and I stumbled over here from a different web page and thought I might check things out. I like what I see so now i am following you. Look forward to going over your web page repeatedly.

movers bethesda md