Electronic Arts, a game publisher who has taking a licking lately in its financial news, has decided to move on acquiring another game publisher. Today it announced it was spending $300 million to acquire Playfish, a social game publisher that launched only two years ago. The owners of Playfish could get cash bonuses up to an additional $100 million if certain milestones are completed before the end of 2011.

In its short span of life, Playfish has released 10 games that have reached a total of 60 million players worldwide via social networking sites like Facebook and MySpace along with mobile phones such as the iPhone and Android-based phones.