EA Officially Picks Up DICE
Electronic Arts announced today that it has officially completed the acquisition of Battlefield series developer Digital Illusions CE (DICE) after a long courtship.
The agreement will have the Stockholm, Sweden-based DICE become a fully integrated EA Studio. According to a statement from EA, the studio will be “dedicated to growing the Battlefield franchise and developing new products for the PC, next generation consoles and other new platforms.”
DICE is currently working on the eagerly anticipated Battlefield 2142 (pictured), which is set to release later this month for PC.
As part of the agreement, DICE CEO Patrick Söderlund will become an EA Studio general manager. Other DICE leaders will retain their roles in Stockholm.
DICE and EA have had a tight working relationship over recent years. “We’ve been working very closely with EA for the past five years and this is a very natural step for us as we move into the next generation of gaming,” said Söderlund.
To complete the acquisition, EA acquired all of the assets and liabilities of DICE. Shareholders in the studio, which represent about 2.6 million shares, will receive SEK 67.50 ($9.23) per share in cash, which will be paid out on October 16.
EA announced its intention to fully acquire DICE in March of this year. The mega-publisher had actually tried to acquire DICE in the past, but DICE shareholders rejected an earlier offer in late 2004.
The acquisition is effective immediately.
EA also recently entered an agreement to acquire Dark Age of Camelot developer Mythic Entertainment in June.