Electronic Arts Paid Less Than $25 Million to Acquire Firemint
Despite rumors circulating that Electronic Arts paid between $40 and $100 million for Firemint, the company confirmed during its fourth-quarter conference call today that it paid less than $25 million. Based in Australia, Firemint has released such hit titles for the iPhone as Flight Control and Real Racing. As of January 2010, it had sold 3.9 million copies of Flight Control, which currently costs 99 cents in the App Store. EA said the purchase of Firemint, which has 60 employees, is in line with its philosophy of making small strategic digital acquisitions.