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EA Could Pay $29 Million For Chillingo

EA could end up paying $29 million for the acquisition of game publisher Chillingo, whose game Cut The Rope managed to surpass 2 million downloads last week.

A financial filing made showed that Electronic Arts has already paid the Angry Birds publisher $17 million for the acquisition, Develop reports.

EA has also promised to pay Chillingo an additional $12 million if it manages to meet sales targets over the next three years.

By acquiring Chillingo, EA has strengthened its position in the emerging social gaming market. The company already has a number of social gaming titles on Facebook, with which it has recently signed a five year Facebook Credits deal.

Users playing EA games on Facebook will be now able to purchase in-game virtual merchandise using Facebook Credits.

Chillingo is EA's second acquisition in the social gaming sector over the last 12 months, having previously paid around $300 million to buy Playfish.