Nearly a month ago, we first reported that gaming giant EA was looking to buy Playfish. Today, the deal is official. The purchase price is $275 million in cash, with $25 million in “equity retention arrangements,” according to the press release, as well as “a maximum of $100 million” based on meeting performance milestones over the next two years.
The significance is that EA, one of the largest video-game makers in the world, believes that its future is tied up with social gaming. Playfish has distinguished itself by creating well-polished social games and gaining tens of millions of users.
In fact, as Inside Social Games readers know, we broke the story around a month ago. From our first article:
We have a few more details on what has supposedly been happening with Playfish. A reliable industry source says EA may have even acquired the company several weeks ago, with an announcement possibly happening in the next few weeks. We believe that Playfish could be on track to make as much as $75 million this year.