I hope this is better than Dragon Age II.
The game will launch Fall 2014.
EA studios DICE (Battlefield) and Visceral (Dead Space) will both make new games in the popular sci-fi franchise, and BioWare (Star Wars: The Old Republic) will "continue" to work on Star Wars games.
"Every developer dreams of creating games for the Star Wars universe," said EA Labels president Frank Gibeau in a statement. "Three of our top studios will fulfill that dream, crafting epic adventures for Star Wars fans. DICE and Visceral will produce new games, joining the BioWare team which continues to develop for the Star Wars franchise. The new experiences we create may borrow from films, but the games will be entirely original with all new stories and gameplay."
In summary, Disney shuts down LucasArts and then licenses out the franchise to EA. You can read the press release here.