EA Officially Acquires PopCap Games
Written Tuesday, July 12, 2011 By Richard WalkerView author's profile
Genius developer PopCap Games - the folks behind the fantastic Peggle, Plants vs. Zombies, Bejeweled and Zuma games - has been officially acquired by Electronic Arts today, following speculation that the company would be dropping a cool $1 billion on snapping up one of the masters in making casual games.
"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."
For the PopCap acquisition, EA is set to pay around $650 million in cash and approximately $100 million in shares of EA common stock that will be issued to certain stockholders at PopCap. The deal is expected to close in August 2011, subject to customary closing conditions. EA is projecting an expected turnover of $500 million to $525 million for the first quarter of its fiscal year 2012.
"We picked EA because they have recast their culture around making great digital games," said David Roberts, CEO of PopCap Games. "By working with EA, we'll scale our games and services to deliver more social, mobile, casual fun to an even bigger, global audience."