Today Electronic Arts announced that it has entered into an agreement to buy Mythic Entertainment.  Mythic Entertainment will become EA Mythic, a wholely owned studio dedicated to developing Massively Multiplayer Online Role-Playing Games.

The press release can be found in .pdf form here, or on Mythic Entertainment's website here.

Below is a cut-and-paste of the press release:

EA TO ACQUIRE MYTHIC ENTERTAINMENT

Studio Recognized Worldwide for Top Development Talent, Critically

Acclaimed Franchises and Ground-Breaking Online Experiences

Redwood City, CA, June 20, 2006 – Electronic Arts Inc. (NASDAQ: ERTS) today announced that it has entered into an agreement to acquire Virginia-based Mythic Entertainment®. Upon completion of the acquisition, Mythic Entertainment will become EA Mythic, a wholly-owned studio dedicated to developing Massively Multiplayer Online Role-Playing Games (MMORPGs). Mythic is recognized worldwide for revolutionizing the online gaming space with the awardwinning Dark Age of Camelot® and is currently developing Warhammer® Online: Age of Reckoning™ under license agreement with Games Workshop.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close during EA’s second quarter of fiscal 2007. Financial terms of the transaction were not disclosed.

Upon completion of the acquisition, Mark Jacobs, the President, Chief Executive Officer and cofounder of Mythic, will become Vice President, General Manager of EA Mythic. Rob Denton, the Vice President, Chief Operating Officer and co-founder of Mythic will assume the role of Vice President, Chief Operating Officer of EA Mythic. Mythic’s 175-person development team will remain in Fairfax, Virginia.

“Mythic has always been a leading independent developer in the online space," says Mark Jacobs, CEO and co-founder of Mythic Entertainment. "EA's commitment to the online market as well as its focus on creating games of unsurpassed quality, scope and scale gives us opportunities and resources we could only dream about in the past."

“The addition of Mythic to the EA family reflects our deep commitment to the online gaming market worldwide. Mythic will bring one of the industry’s most talented MMORPG teams to EA. Together, we will create games that will introduce MMO players to a whole new level of game play and excitement,” said Paul Lee, President, EA Studios .

  ###

About Electronic Arts

Electronic Arts Inc. (EA), headquartered in Redwood City, California, is the world's leading interactive entertainment software company. Founded in 1982, the company develops, publishes, and distributes interactive software worldwide for videogame systems, personal computers and the Internet. Electronic Arts markets its products under four brand names: EA SPORTSTM, EATM, EA SPORTS BIGTM and POGOTM. In fiscal 2006, EA posted revenue of $2.95 billion and had 27 titles that sold more than one million copies. EA's homepage and online game site is www.ea.com. More information about EA's products and full text of press releases can be found on the Internet at http://info.ea.com.

About Mythic Entertainment

Mythic Entertainment recently celebrated its ten year anniversary as one of the most successful independent developers and publishers of massively-multiplayer online role-playing games in the world. Credited with 15 online games, including the award winning Dark Age of Camelot, Mythic's success is based on proprietary technology, innovative game design and exemplary customer service delivered by a talented staff of more than 170 people. Dark Age of Camelot is played in almost every country in the world, and is available in seven languages. Mythic has been in development of Warhammer Online: Age of Reckoning since acquiring the exclusive worldwide PC and console MMORPG license from Games Workshop in May 2005.

Some statements set forth in this release, including those regarding EA's pending acquisition of Mythic Entertainment and the expected impact of the acquisition on EA's strategic and operational plans and financial results, contain forward-looking statements that are subject to change. Statements including words such as "anticipate", "believe", "estimate" or "expect" and statements in the future tense are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual events or actual future results to differ materially from the expectations set forth in the forward-looking statements. Some of the factors which could cause results to differ materially from the expectations expressed in these forward-looking statements include the following: the required receipt of necessary regulatory approvals, including under applicable antitrust laws; the possibility that the transaction will not close or that the closing may be delayed; the effect of the announcement of the acquisition on EA's and Mythic’s strategic relationships, operating results and business generally, including the ability to retain key employees; EA's ability to successfully integrate Mythic’s operations and employees; general economic conditions; and other factors described in EA's SEC filings (including EA's Annual Report on Form 10-K for the year ended March 31, 2006.) If any of these risks or uncertainties materializes, the acquisition may not be consummated, the potential benefits of the acquisition may not be realized, EA's operating results and financial performance could suffer, and actual results could differ materially from the expectations described in these forward-looking statements. EA assumes no obligation to update these forward-looking statements.

Electronic Arts, EA, EA SPORTS, EA SPORTS BIG and POGO are trademarks or registered trademarks of Electronic Arts Inc. in the U.S. and/or other countries. All Rights Reserved. Games Workshop, Warhammer, Warhammer Online, Age of Reckoning, and all associated marks, names, races, race insignia, characters, vehicles, locations, units, illustrations and images from the Warhammer world are either ®, ™ and/or © Games Workshop Ltd 2000-2006. Used under license by Mythic Entertainment, Inc. All Rights Reserved.

Mythic Entertainment, Dark Age of Camelot and their respective logo's are trademarks or registered trademarks of Mythic Entertainment, Inc. in the U.S. and/or other countries. All rights reserved.

All other trademarks are the property of their respective owners.