Electronic Arts Acquires Software Developer Tiburon Entertainment; Leading Sports Game Developer Becomes Wholly-Owned Subsidiary.
Tiburon will become a wholly owned subsidiary of Electronic Arts. Financial terms were not disclosed. Electronic Arts was formerly a minority investor in the privately held company, owning 19.9 percent of Tiburon since April 1996.
Tiburon, founded in 1994, has designed top-selling interactive game software for Electronic Arts for several years. The 52-person company is widely recognized for its ability to develop innovative and visually compelling titles. Key Electronic Arts (EA) properties developed by Tiburon include the best-selling 1998 versions of John Madden Football(TM) for the PlayStation(R) and Nintendo(R) 64, and NCAA(R) College Football for the PlayStation.
"We are pleased to welcome the talented development team from Tiburon into Electronic Arts' growing family," said Larry Probst, Electronic Arts Chairman and CEO. "The creative and technical professionals at Tiburon have developed some of the industry's best-selling titles. Their outstanding game designs and leading-edge use of new technology strengthens our internal software development capabilities."
"We see Electronic Arts as an ideal partner, and we're very excited to become part of the company," said John C. Schappert, president of Tiburon. "Tiburon's unique creative and development strength, coupled with EA's powerful worldwide distribution capability, make a winning combination."
The acquisition of Tiburon is consistent with EA's strategy to enhance its development and creative resources through acquisition or investment. Last year the Company acquired Maxis(TM), Inc. of Walnut Creek, Calif. and has made minority investments in Accolade, Inc. (San Jose, Calif.) and Stormfront Studios, Inc. (San Rafael, Calif.).
Electronic Arts, headquartered in San Mateo, Calif., is a leading interactive entertainment software company. Founded in 1982, Electronic Arts posted revenues of $860 million for calendar 1997. The Company develops, publishes and distributes software worldwide for personal computers and advanced entertainment systems such as the PlayStation(R) and Nintendo(R) 64.
Electronic Arts markets its products worldwide under six brand names: Electronic Arts, EA SPORTS(TM), Maxis(TM), Inc., ORIGIN Systems(TM) Inc., Bullfrog(TM) Productions Ltd. and Jane's(R) Combat Simulations.
EA has international subsidiaries in Australia, Brazil, Canada, France, Germany, Japan, the Netherlands, Portugal, Singapore, South Africa, Spain, Sweden, and the United Kingdom. The Company has North American development operations in San Mateo and Walnut Creek, Calif.; Baltimore, Md.; Austin, Texas; Seattle, Wash.; and Vancouver, British Columbia. More information about EA's products and full text of press releases can be found on the Internet at http://www.ea.com. -0-
Note to Editors: Electronic Arts, EA SPORTS, John Madden Football, Origin Systems, Maxis and Bullfrog are trademarks or registered trademarks of Electronic Arts or its wholly owned subsidiaries in the United States and/or other countries. NCAA is a registered trademark of the National Collegiate Athletic Association. Jane's is a registered trademark of Jane's Information Group, Ltd. PlayStation is a registered trademark of Sony Computer Entertainment, Inc. Nintendo 64 is a trademark of Nintendo of America, Inc. All other trademarks are the property of their respective owners.
CONTACT: Electronic Arts
Pat Becker, 650/513-7523 (Dir. Corp. Comm.)
Caroline Hughes, 650/513-7860 (Dir. Investor Relations)
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|Date:||Apr 2, 1998|
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