Three weeks ago, it was reported that Electronic Arts had stepped up to the plate to buy mobile/casual gaming publisher PopCap for a cool $1 billion. Today, Electronic Arts has confirmed that it has purchased PopCap for a final sum of $650 million and $100 million in shares of EA common stock. There's also the possibility for up to $550 million in earn-outs for hitting 2013 financial milestones.
“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 deal is expected to close in August of this year. Along with its previous acquisition of Playfish and the creation of Origin, EA is making huge moves to diversify itself outside of the traditional console business it’s known for. Can these moves help EA take the number one spot? Can EA dethrone Zynga?
IndustryGamers will have more on this acquisition soon.
