EA sought to buy Valve for $1 billion - Report
Half-Life house supposedly courted for purchase by Battlefield publisher; Gabe Newell says company would rather "disintegrate" than sell out.
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FIFA and Battlefield publisher Electronic Arts has reportedly been making a play to purchase Half-Life and Portal studio Valve. The New York Times reports that EA has sought to purchase the firm for years, valuing the company at well over $1 billion.
According to "people with knowledge of the discussion," the talks did not progress far. Valve's finances are private, but a Forbes report from March estimated the firm's value at $3 billion, with cofounder Gabe Newell's personal net worth believed to be about $1.5 billion.
Despite the billion dollar offer, Newell said Valve would prefer to "disintegrate" than ever sell out.
“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,’" he said.
EA is no stranger to big buyouts. The company purchased Plants vs. Zombies and Bejeweled studio PopCap last year for $650 million in cash, with an additional $550 on the table for staffers as bonuses provided certain performance benchmarks are hit.