Electronic Arts buys PopCap Games for $750 million

By Julianne Pepitone @CNNMoneyTech July 12, 2011: 4:36 PM ET

NEW YORK (CNNMoney) -- In one of its largest acquisitions ever, Electronic Arts is buying mobile game maker PopCap Games for $750 million in cash and stock, the companies announced Tuesday.
The deal is expected to close in August, EA (ERTS) said. PopCap could net a total of $1.3 billion if it hits certain targets in the coming years.

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PopCap makes games for mobile devices, tablets, PCs and social networking sites. In addition to blockbuster franchise Bejeweled, the company's list of his includes its popular Plants vs. Zombies title.
The PopCap buy will "accelerate [EA's] drive towards a $1 billion digital business," EA CEO John Riccitiello said in a written statement.

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