NEW YORK (
) -- Ending
weeks of speculation,
announced Tuesday that it bought
, the maker of popular smartphone games like
Plants vs. Zombies
. The deal went down for about $750 million.
Seattle-based PopCap was acquired by EA to expand its
which EA hopes will exceed $1 billion in revenue this year.
The PopCap buy marks another notch in EA's recent, aggressive push into digital. In October, EA
snapped up mobile gaming company
, the publisher of the addictive smartphone game,
. And in May, it acquired
, creator of mobile gaming titles like
EA also purchased social gaming company
"PopCap has a proven financial trajectory with sustained revenue growth and double-digit operating margins," said EA CFO Eric Brown in a press release. "On a non-GAAP basis, this deal is expected to be at least ten-cents accretive in fiscal year 2013."
Prior to its acquisition, PopCap was pegged as a strong IPO candidate for 2011. The company is profitable, generated roughly $100 million last year and has over 400 employees.
Shares of EA dropped 3% to $23.40 in after-hours trading on Tuesday following the PopCap news.
--Written by Olivia Oran in New York.
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