Friday, December 9, 2005

EA To Buy JAMDAT For $680M

Electronic Arts and Los Angeles-based JAMDAT Mobile said yesterday afternoon that the two companies have entered into a definitive merger agreement where EA will acquire JAMDAT. EA said that it will pay $27 per share in cash, for a total purchase price of roughly $680M. JAMDAT Mobile is a developer of wireless and mobile entertainment titles for mobile phones. EA is a major publisher of entertainment software. EA Chairman Larry Probst said in a statement that the company intends to build a leading global position in the rapidly growing business of providing games on mobile phones. JAMDAT has 350 employees across the globe.

---