Electronic Arts is acquiring casual gaming giant PopCap, maker of Plants vs. Zombies and Bejeweled, among others. EA is paying out $650 million in cash, $100 million in stock and up to $550 million in earn-outs for hitting financial milestones in the next few years.
“EA and PopCap are a compelling combination,” said EA CEO John Riccitiello. “PopCap’s great studio talent and powerful IP add to EA’s momentum and accelerate our drive towards a $1 billion digital business. EA’s global studio and publishing network will help PopCap rapidly expand their business to more digital devices, more countries, and more channels.”
“We picked EA because they have recast their culture around making great digital games,” said David Roberts, CEO of PopCap. “By working with EA, we'll scale our games and services to deliver more social, mobile, casual fun to an even bigger, global audience.”
The press release notes that PopCap games have been downloaded more than 1.5 billion times and Bejeweled, the flagship franchise, has sold more than 50 million units.
Hat tip to Business Insider.