Bethesda Parent Company Receives $150 Million Investment
The name ZeniMax Media may not mean much to you, but if you look at its subsidiaries, you'll soon realize how big of a player it is in the world of gaming. Among various other smaller studios, ZeniMax owns Bethesda Softworks, id Software, and most recently Arkane Studios. A new round of funding suggests that they're only going to get bigger.
Today ZeniMax announced that they have closed a deal with Providence Equity Partners for a $150 million investment. The same equity firm previously gave ZeniMax $300 million in 2007. The new money will "fund additional growth through increased game development, expanded publishing operations, and strategic acquisitions."
According to ZeniMax founder and CEO Robert Altman, "A number of prominent private equity firms offered to invest with us on attractive terms." That's not hard to believe if you take a look at the upcoming slate of game coming from ZeniMax's subsidiaries, including Fallout: New Vegas, Rage, and whatever Bethesda Game Studios is working on next.
Providence managing director Michael Dominguez said that ZeniMax has tripled the size of its portfolio since the 2007 investment and called it "what we consider to be the best managed company in the videogame industry."