Electronic Arts has purchased J2MSoft, a Korean developer of PC online games. J2M develops free-to-play online games that are monetized through micro-transactions and advertising. Online games created and wholly owned by J2M include RAYCITY, TAAN, and DEBUT, and other properties to be announced.
EA has launched popular online games in Asia including EA SPORTS FIFA ONLINE and NBA STREET ONLINE. Other EA titles in development for online play in Asia include WARHAMMER: AGE OF RECKONING, NEED FOR SPEED and BATTLEFIELD HEROES. EA SPORTS FIFA ONLINE debuted in Korea in 2006 and is currently among Korea's top-ten online games. In the months ahead, EA expects to announce other popular franchises in development for online play in Asia.
The acquisition closed on December 2, 2008. Terms of the agreement were not released. While valuations are not yet complete, EA does not expect the acquisition to have a material impact on its financial results in fiscal 2009.