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ZeniMax Media Receives $150 Million To Fuel Game Development, Future Acquisitions
by Tom Curtis
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October 6, 2010
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Bethesda Softworks parent company ZeniMax Media has received a $150 million investment from private equity firm Providence Equity Partners to fuel growth and development.
This sum supplements a previous investment of $300 million provided by Providence in 2007, and Zenimax says it plans to use the funds to aid game development, publishing operations, and to pursue future acquisitions.
ZeniMax has increased and diversified its company portfolio over the last few years, and now owns publisher Bethesda Softworks, and studios including Bethesda Game Studios (Fallout 3, Elder Scrolls), id Software (DOOM, RAGE), and Arkane Studios (Arx Fatalis, Dark Messiah of Might and Magic).
In addition to these studios, ZeniMax launched ZeniMax Online Studios in 2007 to pursue the development of MMOGs.
“Since our original investment in 2007, ZeniMax Media has tripled the size of its development portfolio and assembled an extraordinary library of major game franchises, along with some of the best development talent in the world," says Providence managing director Michael Dominguez.
"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 three years as we built our business," adds ZeniMax founder Robert A. Altman.
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