EA’s Acquisition Of Hands-On Korea: $29 Million


Last week EA announced its acquisition of the Korean division of Hands-On Mobile, the mobile gaming company formerly known as Mforma. At that time, no financial details were released, but now digging through EA’s annual report, filed late in Friday, the amount is known: it is $29 million in cash, when the acquisition closes. From the filing: “In April 2008, we entered into definitive agreements to acquire certain assets from Hands-On Mobile Inc. and its affiliates relating to its Korean mobile games business based in Seoul, Korea. The purchase price to be paid for the assets at closing will be approximately $29 million in cash. The acquisition is subject to customary closing conditions and is expected to close during our first quarter of fiscal 2009.”

Hands-On bought MobileGame Korea in 2004, and that became Hands-On Korea after the parent company rebranded.

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