Mythic sells out, EA preps takeover

If I could wish it all away, I would.

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 co-founder 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.”

In Feburary rumors surfaced about EA acquiring Mythic Entertainment. These rumors stemmed from EA’s desires to establish a dominate force in the online landscape. According to Bill Bishop, the numbers floating around were in 30-50 million dollar range but the deal reportedly went sour over relocation, price, and non-compete issues. Mythic’s final price tag is estimated in the 70 million dolar range. Mythic Entertainment is the publisher and developer of Dark Age of Camelot and currently developing the escalating anticipated Warhammer Online.

I see advantages from this merger from the development point of view; easier entry to the console arena, numerous channels adding development resources. On the other hand, I’m mentally scarred by all the online properties EA squandered in the past due to their shitty corporate stench on development. If you are foreign to EA’s history this Escapist article puts my cautious contempt for EA’s business practices into perspective.

EA is desperate, their sequel everything mantra is floundering and they are in desperate need to make money and with the PSX 3’s release far away it certainly doesn’t help EA. The Mythic buyout is an intelligent tactic for EA, however, it’s possible EA will end up raping Mythic Entertainment’s corpse with their demon cock until no Mythic remains. EA doesn’t give a shit about DAOC, subscriptions are in decline and the game is outdated, do you play DAOC? I don’t and none of my good online friends do either, but we plan on giving Warhammer a run. EA Mythic will focus on Warhammer, but it will be clouded with EA’s corporate vision, finding the World of Warcraft killer, which could kill Mythic EA in the process.

On a lighter note, time for me to poke fun at the greedy Mark Jacobs:

* Once the transition takes place he will no longer be Mark Jacobs and be referred to as Lord Jacobs.
* All underlings working at the newly strained Mythic EA will be required to wear leather tunics and be referred as Peon_01, Peon_02, etc.
* Part of the contract requires EA to build Lord Jacobs a larger castle than Lord Garriot’s castle.
* Sanya will rebel and in turn be imprisoned in one of the towers until someone vanquishes EA.

Mark Jacobs, shame on you. Well, perhaps he couldn’t find new money hats to pay off investors who wanted their millions back. Sad face.