And you thought you spent a lot of money on Pet company. EA just spent $ 300 million on leading social media game creator Playfish, the team behind Pet Society, Restaurant City, and Country Story.
With over 60 million active players across all of its Facebook, MySpace, Google, and iPhone games every month, social media game developer Playfish was ripe for the picking. Now they have been chosen. As we said previously, EA acquired the company for $ 275 million in cash and $ 25 million in equity conservation agreements, with up to an additional $ 100 million in variable cash consideration, pending the achievement of certain performance milestones. until December 31, 2011.
Playfish will now be part of EA Interactive, a division of the company dedicated to web and wireless games. Over 150 million Playfish titles are installed and played globally, with titles like Pet Society, of which I am a big fan, generating over a billion gaming sessions per month.
âSocial play, which emphasizes friends and community, is experiencing tremendous growth and now is the right time to invest to strengthen our participation in this space,â said Barry Cottle, Senior Vice President and Director general of EA Interactive. âEAi has successfully led EA’s charge, and with the addition of Playfish’s proven expertise, large consumer base and strong gaming brands, we are aggressively moving forward in our plans to be a leader in the multiplatform social entertainment category. . “
If there was any doubt that EA was completely serious about the social media gaming space, it should be done away with. This is an aggressive move in the growing segment of the industry that could only be overtaken by the acquisition of the creators of Mafia Wars, Zynga, which I expect a large corporation to games announces day to day.