Firemint Founder Sells to Electronic Arts But to Keep 'Autonomy'
Sale Said to Gross A$20-$40MM
Electronic Arts Inc. (NASDAQ:ERTS) on Tuesday announced an agreement to acquire mobile game developer Firemint Pty Ltd. for an undisclosed amount.
Melbourne-based Firemint will become part of EA's mobile and web game unit, EA Interactive. The sale is expected to close within four weeks.
Firemint CEO and Founder Rob Murray said in a note that despite the sale, Firemint would be staying in Australia and he would continue to run the firm with "with very high levels of autonomy"."EA believe in us, they want us to make great games and they trust that we know how to do that. We will be joining ranks with some of the best developers in the business."
The Sydney Morning Herald reported that Mr. Murray is now Australia's newest high-tech millionaire after selling Firemint to Electronic Arts for an estimated A$20 million to A$40 million.
Firemint, which has 60 employees, produced popular mobile games liked Flight Control, Real Racing and Puzzle Quest. Real Racing is popular on Apple Inc.'s iPhone and iPad.
"The Firemint team is remarkable for its critical and commercial success," said Barry Cottle, Executive Vice President and General Manger of EA Interactive, in an announcement, "Having them as part of EAi will accelerate our position as worldwide leader in game development for mobile devices and online gaming platforms."
Electronic Arts Inc., headquartered in Redwood City, California, is a global interactive entertainment software company. It had 27 titles that sold more than on million units, reporting total revenue of US$3.7 billion in fiscal 2010.
EA has lately been on acquisition mode. Recently, it bought Mobile Post Production Inc., which adapts games for smartphones, and U.K.-based online game company Playfish Ltd.