ZeniMax raised $105 million to pay for id Software
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Credit: id Software.
ZeniMax Media raised $105 million to acquire id Software, according to a document filed today with the Securities and Exchange Commission.
Id Software, which created the Doom and Quake game franchises, stunned the game industry two weeks ago when it announced its acquisition by ZeniMax, which publishes the Elder Scrolls series of role-playing games developed by its Bethesda Softworks studio. The sale surprised many because id Software, based in Mesquite, Texas, had rebuffed numerous buyout offers over the years, preferring to maintain its independence.
Because both companies were privately held, neither was obligated to divulge the price.
The filing with the SEC suggests that the price may have been $105 million. That’s what ZeniMax issued in the form of a ‘convertible note,’ so called because the holder of that bond can convert it into either cash or shares in the issuing company. It’s unclear from the filing if ZeniMax used the entire amount to pay for id or whether the deal called for additional payment.
ZeniMax and id Software declined to comment on the filing.
ZeniMax, based in Rockville, Md., has deep pockets backing the company. In 2007 it snagged a $300-million investment from Providence Equity Partners, and its board of directors include retired baseball player Cal Ripken Jr., CBS Corp. President Leslie Moonves and Hollywood producer Jerry Bruckheimer, who in May announced his entry into the video game business.
Updated 6:42 pm to reflect the companies’ denial for comment.
-- Alex Pham and Ben Fritz