If you needed proof that social gaming is huge business, look no further than today's blockbuster news.
Video gaming giant Electronics Arts (EA for short) just announced that it has acquired the social gaming company Playfish for a deal that could be worth up to $400 million. While there have been rumors of potential acquisition, the deal is now official.
EA will pay $275 million in cash and $25 million in equity for the company. In addition, if Playfish achieves certain "performance milestones" (aka continues to grow), the price tag could go up to a full $400 million.
And there's no reason to think Playfish won't continue to rapidly grow along with the social gaming market. The company is responsible for some of the most popular games on Facebook, MySpace, and the iPhone, including Pet Society, Restaurant City, and Country Story.