It s official: Bono is getting into games.

The Wall Street Journal reports that Elevation Partners (a private-equity firm where Bono is a partner) is about to announce a deal that will give them controlling stake in Pandemic Studios and BioWare Corp. The two uber-developers will continue to be managed by their individual founders.

In other words a shitton of money is being injected into the companies in exchange for lots o' potential profit. Elevation wouldn t say how much said shitton was, but estimated the combined value of the two developers at $300 million.

Elevation s other, non-rocking partners include John Riccitiello, former president of EA; and Fred Anderson, former CFO of Apple. The company claims to have raised $1.9 billion in capital for investing in media and entertainment.

Riccitiello tells the embargo-bustin WSJ that the extra cash will be used to make new games. Wow, who would of thunk it? The two developers do get to retain their creations, which is nice. No word on what those new games might be, hopefully we ll learn more later in the day.

Videogame Makers to Join Up In a Private-Equity Maneuver [WSJ]

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