Virgin Interactive Operations Sold for $122.5 Million
Electronic Arts Inc., the world’s largest computer-game maker, said it has completed its acquisition of Virgin Interactive Entertainment Ltd.'s software development groups in Irvine for $122.5 million in cash.
Electronic Arts, based in San Mateo, acquired the operations from Los Angeles-based Spelling Entertainment Group Inc., which owns about 91% of Virgin Interactive.
The assets sold represent the substantial majority of the value of Virgin Interactive. Spelling has not commented on what will happen to the remainder of the struggling game company, which includes about 70 sales and marketing employees in Irvine as well as its European distribution offices.