Electronic Arts just announced that it will be buying PopCap in a deal that could amount to $1.3 billion.
EA said in a statement that it will pay roughly $650 million in cash, $100 million in stock, and up to $550 million in earn-outs for hitting 2013 financial milestones.
That’s 41% of EA’s cash on hand according to its March earnings report. Its cash may have increased since then, so the percentage may be less, but either way this is a pretty big bet from EA on the mobile market.
PopCap’s megahits are Plants vs Zombies and Bejeweled.