Experienced Team To Develop Online Games Based On EA Franchises and
New IP
SEOUL, South Korea, Dec 02, 2008 (BUSINESS WIRE) --
Electronic Arts Inc. (NASDAQ:ERTS) today announced the acquisition of
J2MSoft Inc. (J2M), a Korean developer of PC online games. J2M develops
free-to-play online games which are monetized through micro-transactions
and advertising. Online games created and wholly owned by J2M include RayCity,
TAAN, and Debut, and other properties to be announced.
"This is a significant step in EA's strategic plan for developing and
publishing online games in Asia," said Jon Niermann, President, EA Asia.
"J2M is an experienced team of developers and we can't wait to have them
start creating online games based on new properties and powerful EA
franchises."
"Korean developers have created a unique style of online games that is
growing in popularity all over Asia," said J2M Founder and CEO KyungMin
Bang. "We are excited that EA is aligning with our vision for online
game. Joining EA presents our team with an opportunity to significantly
expand our based with players throughout Asia and around the world as
well as to be at the forefront of online gaming."
EA has launched popular online games in Asia including EA SPORTS(TM)
FIFA Online and NBA STREET Online. Other EA titles in
development for online play in Asia include Warhammer(R): Age of
Reckoning(R),Need For Speed and Battlefield Heroes. EA
SPORTS FIFA Online debuted in Korea in 2006 and is currently among
Korea's top-ten online games. In the months ahead, EA expects to
announce other popular franchises in development for online play in Asia.
The acquisition closed on December 2, 2008. Terms of the agreement were
not released. While valuations are not yet complete, EA does not expect
the acquisition to have a material impact on its financial results in
fiscal 2009.
EA SPORTS and Need for Speed are trademarks or registered trademarks of
Electronic Arts Inc. in the U.S. and/or other countries. Battlefield
Heroes is a trademark of EA Digital Illusions CE AB. Warhammer and Age
of Reckoning are registered trademarks of Games Workshop Ltd. FIFA and
NBA are the property of their respective owners and used with
permission. All other trademarks are the property of their respective
owners.
Safe Harbor For Forward-Looking Statements
Some statements set forth in this release, including those regarding
EA's pending acquisition of J2M 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: J2M's ability to expand in Asia; the
effect of the announcement of the acquisition on EA's and J2M's
strategic relationships, operating results and business generally,
including the ability to retain key 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, 2008 and
Quarterly Report on Form 10-Q for the quarter ended September 30, 2008).
If any of these risks or uncertainties materialize, the acquisition may
not be consummated or may not be consummated on the anticipated terms,
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.
SOURCE: Electronic Arts Inc.
Burson-Marsteller Korea
Sunmi Kim, +8.3782.6471
SunMi.Kim@bm.com
or
EA Investor Relations
Tricia Gugler, +1-650-628-7327
tgugler@ea.com
or
EA Communications
Jeff Brown, +1-650-628-7922
jbrown@ea.com
Copyright Business Wire 2008
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