The popular video game maker, Electronic Arts (EA), has confirmed rumors that it would acquire the online game maker Playfish for a reported amount of up to $400 million.
Right now, EA is set to pay $275 million in cash for the company, in addition to $25 million in equity. EA has added performance covenants through December 31, 2011, were assuming Playfish continues to grow, EA will pay up to $400 million for the company.
The acquisition will help propel EA into the online social gaming realm.
