And you thought you spent a lot of money on Pet Society. EA just spent $300 million on leading social network game creator Playfish, the team behind Pet Society, Restaurant City, and Country Story.
With more than 60 million active player across all of its Facebook, MySpace, Google, and iPhone games every month, social network game developer Playfish was ripe for the picking. Now they've been picked. As rumored previously, EA has acquired the company for $275 million in cash and $25 million in equity retention agreements, with up to an additional $100 million in variable cash consideration, pending the achievement of certain performance milestones through December 31st of 2011.