EA Acquires Digital Illusions
CHERTSEY, UK-Oct. 2, 2006--Electronic Arts (NASDAQ:ERTS) today announced the acquisition of Digital Illusions CE (DICE), acclaimed development team and creators of the Battlefield game franchise. Located in Stockholm, Sweden, DICE becomes a fully integrated EA studio dedicated to growing the Battlefield franchise and developing new products for the PC, next generation consoles and other new platforms. The acquisition is effective immediately.
"EA is thrilled to officially welcome this team of incredibly talented people and a globally recognised game franchise," said Paul Lee, President of EA's Worldwide Studios. "The DICE studio has strong opportunity for growth as we build the Battlefield franchise and other new products. We're confident that our creative approach and business leadership principles are well matched to share future success."
Patrick Soderlund, DICE CEO, said, "Being part of the EA studio team is a great step forward that will help us continue to deliver new games and new franchises to DICE fans. We've been working very closely with EA for the past five years and this is a very natural step for us as we move into the next generation of gaming."
Patrick Soderlund will become an EA Studio General Manager, maintaining responsibility for the DICE studio and taking on additional creative responsibilities. The DICE leadership team will continue in their roles in Stockholm.
The acquisition was completed via a merger through which EA acquired the assets and liabilities of DICE. DICE shareholders, representing approximately 2.6 million shares, will receive SEK 67.50 per share in cash, to be paid out on October 16, 2006.
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.electronicarts.co.uk More information about EA's products and full text of press releases can be found on the Internet at http://www.electronicarts.co.uk/press
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Some statements set forth in this release contain forward-looking statements that are subject to change. Statements including words such as "anticipate", "believe", "estimate", "expect" and "plan" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause the Company's results to differ materially from its expectations include the following: the Company's ability to successfully integrate DICE's operations and employees; consumer spending trends; the seasonal and cyclical nature of the interactive game segment; timely development and release of Electronic Arts' products; competition in the interactive entertainment industry; general economic conditions; and other factors described in the Company's annual report on Form 10-Q for the quarter ended June 30, 2006. These forward-looking statements speak only as of the date of initial publication of this release. Electronic Arts does not intend to update these forward-looking statements.