The big news story of the day: Electronic Arts has purchased casual game developer, PopCap Games, for upwards of over a Billion US Dollars, once all is said and done. The initial acquisition price is $650 million plus $100 million stock and a multi-year earn-out. PopCap Games is the maker of such hits as Plants vs. Zombies, Zuma, and Bejeweled. The acquisition is of benefit to both entities, as EA has not had nearly the success of PopCap in the mobile markets and PopCap hasn’t the success of EA in console markets. Win-Win, people!
EA CEO John Riccitiello said in a release: “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.”