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Software

Playfish snapped up by Electronic Arts

Article Date:  Nov 11 2009

Venture capital firms Accel Partners and Index Ventures have exited social network games company Playfish.

The London-based company has been sold to US computer game group Electronic Arts for up to $400 million (£240 million), of which $275 million is to be paid in cash upfront, $25 million is in share options, and the balance dependant on performance targets.

Playfish has produced more than 150 million games on platforms such as Facebook, MySpace, Google and iPhone. It received $17 million in a funding round led by Accel and Index in October last year, and will now operate within Electronic Arts’ interactive division.

Barry Cottle, senior vice president and general manager of EA Interactive, says: ‘Social gaming, with its emphasis on friends and community, is seeing tremendous growth and this is the right time to invest to strengthen our participation in this space.’

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