Private-equity firm Elevation Partners — which counts U2 frontman Bono among its partners — sold gaming companies BioWare and Pandemic Studios to Electronic Arts for $860 million. Elevation Partners, which is named after the U2 song, was a natural for EA to do a deal with. One of the founding partners, John Riccitiello, is the CEO of Electronic Arts. Elevation purchased the two game companies in late 2005 for $300 million. Not bad for less than two years' work. [WSJ]
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