The New York Times Online (NYT) has revealed that, over the years, Electronic Arts had been eyeing up that rising star in the game software world – Valve. Two people, who were apparently part of the discussions, suggested that the offer to buy up Valve could have surpassed the US1$ billion mark.
NYT further cites gaming industry soothsayer and Webbush Securities analyst, Michael Pachter, who has suggested that Valve is worth about US$2.5 billion today.
Valve is operated as a private company, and doesn’t release any financial results to the public. Founder and head honcho, Gabe Newell, is estimated to have a net worth of US$1.5 billion as of March 2012, according to Forbes.
Newell discussed the potential of a Valve buyout with NYT, saying that there’s a better chance of Valve disintegrating, and its employees dissipating.
“It’s way more likely we would head in that direction than say, ‘Let’s find some giant company that wants to cash us out and wait two or three years to have our employment agreements terminate,'” said Newell.
Electronic Arts COO, Peter Moore had good things to say about Valve: “They’re on the cutting edge of the future of this industry.”
Sources: NYT, Forbes
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“Electronic Arts COO, Peter Moore had good things to say about Valve:
“They’re on the cutting edge of the future of this industry.”” – allow me to translate this for you…
“Oh gawd! They’re making money! Why aren’t we making money?!?!? We didn’t didnt we do this first???”