Today Electronic Arts announced it has acquired Playfish, a creator of social network games. Playfish will operate within EA Interactive, a division of EA focused on the web and on wireless.
EA has acquired Playfish for approximately US$275 million in cash and approximately $US25 million in equity retention arrangements.
In addition, the sellers are entitled to additional variable cash consideration, up to a maximum of US$100 million, contingent upon the achievement of certain performance milestones through December 31, 2011.
“Social gaming, with its emphasis on friends and community, is seeing tremendous growth and this is the right time to invest to strengthen our participation in this space,” said Barry Cottle, Senior Vice President and General Manager of EA Interactive. “EAi has been successfully leading the charge for EA, and with the addition of proven expertise from Playfish, their broad consumer base and strong game brands, we’re moving ahead aggressively in our plans to lead in the category of cross-platform social entertainment.”
Playfish is one of the world’s largest social gaming companies with more than 150 million games installed and played worldwide on platforms such as Facebook, MySpace, Google, Bebo, iPhone and Android.
Playfish currently has over 60 million monthly active players across its ten titles – including Facebook hits Pet Society, Restaurant City, and Country Story – driving more than 1 billion game play sessions every month.
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