Bethesda Softworks' Parent Raises Additional $150 Million
ZeniMax Media Inc., the parent company of renowned developer and publisher Bethesda Softworks, announced today that the company has secured an additional $150 million investment by Providence Equity Partners (PEP).
According to the press release, the money will be used to "fund additional growth through increased game development, expanded publishing operations, and strategic acquisitions."
The new investment from Providence is on top of an initial $300 investment made to ZeniMax by PEP in October 2007.
"Though a number of prominent private equity firms offered to invest with us on attractive terms, we chose Providence as they have proved to be an ideal partner for us over the past 3 years as we built our business. We believed that furthering that relationship was the right course for us. Providence shares our strategic vision for the Company and is excited by the opportunity to help us strengthen a position of leadership in this industry,” said Chairman and CEO of ZeniMax Media Robert A. Altman.
Sounds like we're about to get many more kick-ass games from Bethesda Softworks, id Software, and company!
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