EA paid $17m for Chillingo

Electronic Arts paid $17 million to buy the social game publisher Chillingo, the group has confirmed in financial statements.

EA acquired Chillingo last month as the social group was riding high on the sales of App Store blockbuster Cut The Rope, which last week passed 2 million downloads.

Electronic Arts may pay up another $12 million to the group should they meet sales targets over the next three years.

The Chillingo buyout highlighted EA’s chase for social game revenues. Its standard retail business, though recovering, is still performing at a loss.

Last year, the Medal Of Honor publisher paid at least $300 million for social studio Playfish.

Story originally published on Develop