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EA Buys Swedish Game Firm

The company gets the 'Battlefield' maker in house.
Author:

Electronic Arts

(ERTS)

acquired

Digital Illusions

, the Swedish creator of the

Battlefield

TheStreet Recommends

video-game franchise.

Investors bid down the stock 2.4%, or $1.34, to $54.50 in recent trading.

DICE shareholders will receive about $9.24 a share in cash for the approximately 2.6 million shares, making the deal worth about $24 million. Shareholders will be paid Oct. 16.

"The DICE studio has strong opportunity for growth as we build the

Battlefield

franchise and other new products. We're confident that our creative approach and business leadership principles are well matched to share future success," Paul Lee, president of EA's Worldwide Studios, said in a statement.

DICE CEO Patrick Soderlund will become a general manager at EA and manage the DICE studio in Stockholm.