ZeniMax $150m VC fund for â??tactical acquisitionsâ??

ZeniMax $150m VC fund for â??tactical acquisitionsâ??

By Rob Crossley

October 7th 2010 at 10:23AM

id Software and Bethesda owner partners again with Providence Equity

Zenimax Media, the multimedia entertainment empire and owner of game studios such as id Software and Bethesda, has secured $150 million from a private equity firm.

Providence Equity Partners, which in October 2007 invested $300 million in the firm, has provided the new funding in convertible preferred stock.

ZeniMax said the investment would help fund “strategic acquisitions”, as well as fund game projects and expand publishing operations.

In July last year Zenimax paid at least $100 million to acquire the pivotal game development studio id Software – though the full expenditure could be far higher.

A year later it bought French outfit Arkane Studios.