UPDATE: SCi Entertainment Group Plc has since offered about $144.6 million to buy Eidos, in a counter to Elevation’s offer that could spark a bidding war. Turns out, we were a bit premature with the word “buys” in our headline. Stay tuned…
Roger McNamee might be called the first “serial venture capitalist,” recently having started his third Silicon Valley firm (we mentioned it here) investing in technology. It’s called Elevation Partners, and has just made its first investment, agreeing to buy the U.K. videogame maker Eidos PLC for about $135 million in cash. Eidos made the Tomb Raider video game, and has about 700 employees. Elevation hired musician Bono as a partner last year.
McNamee and Elevation operate in the more mature sector of investing, actually called “private equity,” investing greater amounts of money in more advanced companies — and is focused on the convergence of media and consumer technology. Check out McNamee’s recent blog comments on digital rights management and the hits taken recently by video console maker Sony.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.
