NEW YORK (

TheStreet

) -- Ending

weeks of speculation,

Electronic Arts

(ERTS)

announced Tuesday that it bought

PopCap Games

, the maker of popular smartphone games like

Bejewled

and

Plants vs. Zombies

. The deal went down for about $750 million.

Seattle-based PopCap was acquired by EA to expand its

digital business,

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

Chillingo

, the publisher of the addictive smartphone game,

Angry Birds

. And in May, it acquired

Firemint

, creator of mobile gaming titles like

Flight Control

and

Real Racing

,

EA also purchased social gaming company

Playfish

in 2009.

"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.

>To follow the writer on Twitter, go to

http://twitter.com/Ozoran

.

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