Electronic Arts Inc. (NASDAQ:ERTS) today announced that
it has entered into an agreement to acquire Virginia-based Mythic
Entertainment(R). 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(R) and
is currently developing Warhammer(R) 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.
Some statements set forth in this release, including those
regarding EA's pending acquisition of Mythic Entertainment and the
expected impact of the acquisition on EA's strategic and operational
plans and financial results, contain forward-looking statements that
are subject to change. Statements including words such as
"anticipate", "believe", "estimate" or "expect" 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 results to differ materially from the
expectations expressed in these forward-looking statements include the
following: the required receipt of necessary regulatory approvals,
including under applicable antitrust laws; the possibility that the
transaction will not close or that the closing may be delayed; the
effect of the announcement of the acquisition on EA's and Mythic's
strategic relationships, operating results and business generally,
including the ability to retain key employees; EA's ability to
successfully integrate Mythic's operations and employees; general
economic conditions; and other factors described in EA's SEC filings
(including EA's Annual Report on Form 10-K for the year ended March
31, 2006.) If any of these risks or uncertainties materializes, the
acquisition may not be consummated, the potential benefits of the
acquisition may not be realized, EA's operating results and financial
performance could suffer, and actual results could differ materially
from the expectations described in these forward-looking statements.
EA assumes no obligation to update these forward-looking statements.
Electronic Arts, EA, EA SPORTS, EA SPORTS BIG and POGO are
trademarks or registered trademarks of Electronic Arts Inc. in the
U.S. and/or other countries. All Rights Reserved.
Games Workshop, Warhammer, Warhammer Online, Age of Reckoning, and
all associated marks, names, races, race insignia, characters,
vehicles, locations, units, illustrations and images from the
Warhammer world are either (R), (TM) and/or (C) Games Workshop Ltd
2000-2006. Used under license by Mythic Entertainment, Inc. All Rights
Reserved.
Mythic Entertainment, Dark Age of Camelot and their respective
logos are trademarks or registered trademarks of Mythic
Entertainment, Inc. in the U.S. and/or other countries. All rights
reserved.
All other trademarks are the property of their respective owners.
