EA/DICE Merger Plans Confirmed News
Jon Wilcox
17/03/2006
Electronic Arts confirms plans to acquire the Swedish studios subject to shareholder vote...
Electronic Arts has today unveiled its plans to fully acquire Swedish studio Digital Illusions, developers of the Battlefield franchise. Already the owner of 68% of shares in the studio, EA proposes to pay the remaining shareholders SEK 67.50 per share (£5.02) representing a 30% premium on DICE's closing price on March 16th 2006.
Subject to a vote at the Annual General Shareholders Meeting of DICE, which is set to take place on May 24th 2006, EA's proposals require a two thirds majority but if it passes, the deal is expected to be closed by September.
The news signals EA's intent to expand its family of development studios, which in recent years has seen the company acquire a number of teams including the UK based Criterion Games.
We'll have more news shortly...