EA To Acquire Mythic Entertainment (thanks Frans) announces the Virginia-based MMORPG developer is in the process of being acquired by Electronic Arts:

June 20, 2006--Electronic Arts Inc. (NASDAQ:ERTS - News) today announced that it has entered into an agreement to acquire Virginia-based Mythic Entertainment®. Upon completion of the acquisition, Mythic Entertainment will become EA Mythic, a wholly-owned studio dedicated to developing Massively Multiplayer Online Role-Playing Games (MMORPGs). Mythic is recognized worldwide for revolutionizing the online gaming space with the award-winning Dark Age of Camelot® and is currently developing Warhammer® Online: Age of Reckoning(TM) under license agreement with Games Workshop.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close during EA's second quarter of fiscal 2007. Financial terms of the transaction were not disclosed.

Upon completion of the acquisition, Mark Jacobs, the President, Chief Executive Officer and co-founder of Mythic, will become Vice President, General Manager of EA Mythic. Rob Denton, the Vice President, Chief Operating Officer and co-founder of Mythic will assume the role of Vice President, Chief Operating Officer of EA Mythic. Mythic's 175-person development team will remain in Fairfax, Virginia.