Electronic Arts Acquires Playfish For Up To $400 Million

There have been rumors circulating over the past month about Playfish, the second largest Facebook Platform developer, being acquired by Electronic Arts. This morning the news was confirmed via a press release stating that:

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.