Electronic Arts Acquires Mythic Entertainment
-
Category: News ArchiveHits: 1095
EA To Acquire Mythic Entertainment
Studio Recognized Worldwide for Top Development Talent, Critically Acclaimed Franchises and Ground-Breaking Online Experiences
REDWOOD CITY, Calif.--(BUSINESS WIRE)--June 20, 2006--Electronic Arts Inc. (NASDAQ:ERTS - News) today announced that it has entered into an agreement to acquire Virginia-based Mythic Entertainment®. Upon completion of the acquisition, Mythic Entertainment will become EA Mythic, a wholly-owned studio dedicated to developing Massively Multiplayer Online Role-Playing Games (MMORPGs). Mythic is recognized worldwide for revolutionizing the online gaming space with the award-winning Dark Age of Camelot® and is currently developing Warhammer® Online: Age of Reckoning(TM) under license agreement with Games Workshop.
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close during EA's second quarter of fiscal 2007. Financial terms of the transaction were not disclosed.
Upon completion of the acquisition, Mark Jacobs, the President, Chief Executive Officer and co-founder of Mythic, will become Vice President, General Manager of EA Mythic. Rob Denton, the Vice President, Chief Operating Officer and co-founder of Mythic will assume the role of Vice President, Chief Operating Officer of EA Mythic. Mythic's 175-person development team will remain in Fairfax, Virginia.
"Mythic has always been a leading independent developer in the online space," says Mark Jacobs, CEO and co-founder of Mythic Entertainment. "EA's commitment to the online market as well as its focus on creating games of unsurpassed quality, scope and scale gives us opportunities and resources we could only dream about in the past."
"The addition of Mythic to the EA family reflects our deep commitment to the online gaming market worldwide. Mythic will bring one of the industry's most talented MMORPG teams to EA. Together, we will create games that will introduce MMO players to a whole new level of game play and excitement," said Paul Lee, President, EA Studios.
About Electronic Arts
Electronic Arts Inc. (EA), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, the company develops, publishes, and distributes interactive software worldwide for videogame systems, personal computers and the Internet. Electronic Arts markets its products under four brand names: EA SPORTS(TM), EA(TM), EA SPORTS BIG(TM) and POGO(TM). In fiscal 2006, EA posted revenue of $2.95 billion and had 27 titles that sold more than one million copies. EA's homepage and online game site is www.ea.com. More information about EA's products and full text of press releases can be found on the Internet at http://info.ea.com.
About Mythic Entertainment
Mythic Entertainment recently celebrated its ten year anniversary as one of the most successful independent developers and publishers of massively-multiplayer online role-playing games in the world. Credited with 15 online games, including the award winning Dark Age of Camelot, Mythic's success is based on proprietary technology, innovative game design and exemplary customer service delivered by a talented staff of more than 170 people. Dark Age of Camelot is played in almost every country in the world, and is available in seven languages. Mythic has been in development of Warhammer Online: Age of Reckoning since acquiring the exclusive worldwide PC and console MMORPG license from Games Workshop in May 2005.
