Electronic Arts has announced that it completed the acquisition of Titanfall developer, Respawn Entertainment, on December 1. In a note on its website, the company said that it made the move under the terms it disclosed on November 9.
In case you missed it, here’s what was agreed upon:
Under the agreement, EA will pay $151 million in cash, and up to $164 million in long-term equity in the form of restricted stock units to employees, which will vest over four years. In addition, EA may be required to pay additional variable cash consideration that is contingent upon achievement of certain performance milestones, relating to the development of future titles, through the end of calendar 2022. The additional consideration is limited to a maximum of $140 million.
Respawn will join EA’s Worldwide Studios organization, a global creative collective of leading game development studios bringing to life an unmatched portfolio of top games and services across all major platforms.
Respawn CEO Vince Zampella said that EA had been a “great partner” and that now was a good time for the studio to join a leading company that would help bring in the resources and support it requires. He also said that Respawn will retain its culture and creative freedom.
[Source: EA]
