BREAKING: EA Acquires Facebook Game Maker Playfish For Up to $400 Million

If you needed proof that social gaming is huge business, look no further than today’s blockbuster news.

Video gaming giant Electronics Arts (EA for short) just announced that it has acquired the social gaming company Playfish for a deal that could be worth up to 0 million. While there have been rumors of potential acquisition, the deal is now official.

EA will pay 5 million in cash and million in equity for the company. In addition, if Playfish achieves certain “performance milestones” (aka continues to grow), the price tag could go up to a full 0 million.

And there’s no reason to think Playfish won’t continue to rapidly grow along with the social gaming market. The company is responsible for some of the most popular games on Facebook, MySpace, and the iPhone, including Pet Society, Restaurant City, and Country Story.

With EA’s financial and gaming muscle, we could see some amazing synergies on the console and social gaming platforms, as well as greater investment in growth and development in social gaming.

Reviews: Facebook, MySpace, pet society, video

Tags: acquisition, EA, electronic arts, facebook, gaming, playfish, social gaming, Zynga