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ELECTRONIC ARTS ENTERS ACQUISITION PITS
Copyright 2004 www.tombraiderchronicles.com

[ July 28th 2004 ]

Electronic Arts jumped into the acquisition game on Wednesday, agreeing to purchase U.K.-based Criterion Software Group, according to an article published by business portal www.thestreet.com. Video game software giant Electronic Arts acquired Criterion because of its intellectual property and game studio, EA spokeswoman Trudy Muller said. Criterion is the developer behind EA's Burnout racing game franchise and the creator of RenderWare, a widely used piece of software used in game development.

"We see it as a good investment," Muller said, adding that EA expects to start seeing returns from the acquisition when Burnout 3 debuts later this quarter. EA's acquisition is only the latest sign of consolidation in the video game arena.

Eidos, another U.K. video game developer, announced last month that it would consider being taken over. Meanwhile, Viacom chairman Sumner Redstone has been buying up shares of Midway and is considering taking the company private. And earlier this month, Acclaim Entertainment warned that it may soon wind up in bankruptcy.

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