The transaction value, including future capital needs and rollover of the founders’ shareholdings, will be more than $300 million, making the BioWare/Pandemic alliance one of the world’s best-funded and largest independent game development efforts. The combined group will immediately have more than 450 employees, with offices in Los Angeles, Edmonton, Canada, and Brisbane, Australia.

The deal creates a new holding company, BioWare/Pandemic Studios, comprised of management from Pandemic, BioWare and Elevation Partners.