Videogame giant Electronic Arts, known for such titles as "The Sims" and "Madden NFL," has reached an agreement to acquire PopCap Games, the makers of "Bejeweled," the company announced on Tuesday.
EA will pay about $650 million in cash, plus $100 million in shares of EA common stock, in the transaction. In addition, the company will shell out up to $50 million in stock over the next four years to hold onto PopCap's employees.
Though perhaps best known for "Bejeweled," Seattle-based PopCap, which was founded in 2000, boasts a varied array of games including "Zuma" and "Plants vs. Zombies."
In announcing the acquisition, EA CEO John Riccitiello said that PopCap will "add to EA's momentum and accelerate our drive towards a $1 billion digital business."
To date, more than 150 million PopCap games have been installed on platforms such as Facebook, RenRen and iPhone. Last year, about 80 percent of the company's revenue came from digital platforms.
