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EA purchasing PopCap Games

Electronic Arts Incorporated, know world wide as EA made a deal with PopCap Games, an iGaming casual games provider and a competitor in order to purchase it for at least $750 million.

Based in San Francisco, EA will now pay roughly $650 million in cash and approximately around $100 million in common shares to certain PopCap stockholders and according to EA, these shareholders will also be entitled to an ‘additional variable cash consideration contingent upon the achievement of certain non-GAAP earnings before interest and tax performance milestones through December of 2013’.

PopCap was established back in 2000 and up till now employs over 400 people. Since the start, PopCap has evolved and become of the largest social and digital gaming companies and has more than 150 million titles all over the world that are played on various platforms like the Facebook, google, RenRen and also on mobile smatphones, the iPhone and all Android Smartphones. According to PopCap, over 1 billion people has at 1 point played one of its 56 games. Zuma, Bejeweled and Plants vs Zombies are amongst other games in PopCap’s portfolio.

David Roberts, PopCap.s Chief Executive Officer stated that they have “picked EA because they have recast its culture around making great digital games.”

“By working with EA, we’ll scale our games and services to deliver more social, mobile, casual fun to an even bigger and global audience.”

On the Other hand, John Riccitiello, EA’s Chief Executive Officer stated that “EA and PopCap are a compelling combination.”

“PopCap’s great studio talent and powerful intellectual property add to EA’s momentum and accelerate our drive towards a one billion dollar digital business. EA’s global studio and publishing network will help PopCap rapidly expand its business to more digital devices, more countries and more channels.”

Eric Brown, EA’s Chief Financial Officer stated that “PopCap has a proven financial trajectory with sustained revenue growth and double-digit operating margins.”

“On a non-GAAP basis, this deal is expected to be at least ten cents accretive in fiscal year 2013.”

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