Electronic Arts announced its acquisition of PopCap in July 2011 with a headline value of about $750 million: approximately $650 million in cash and $100 million in EA stock. That shorthand did not include every possible payment, and it is not the same as the amount EA later recorded in its accounts. At closing, EA reported about $645 million in cash; its fiscal 2013 filing recorded a $732 million purchase price.
When did EA buy PopCap?
EA entered into the merger agreement on July 11, 2011, and announced the acquisition on July 12. The deal closed on August 12, 2011. EA’s SEC filing described PopCap as surviving the merger “as a wholly owned subsidiary of EA.”
What does the $750 million figure include?
The announcement-era headline combined approximately $650 million in cash with $100 million in EA stock. It was a rounded description of the expected transaction consideration, not a tally of every arrangement or a statement that all potential payments were made.
| Figure | What EA reported | How to interpret it |
|---|---|---|
| Announcement headline | Approximately $650 million cash plus $100 million in EA stock, per EA’s July 12, 2011 announcement | The basis for the commonly cited approximately $750 million price. |
| Employee retention | Up to $50 million in long-term employee retention awards, described in EA’s announcement | A separate retention arrangement; do not add it to the headline as though it were fixed purchase consideration. |
| Potential earn-out | Up to $550 million in contingent cash consideration tied to performance milestones through 2013, under the merger agreement | A possible additional payment, not a guaranteed amount. EA’s fiscal 2013 filing said no earn-out had been paid as of that report. |
| Closing consideration | Approximately $645 million cash and 4,356,144 privately placed shares, plus up to approximately $50 million in retention arrangements, as reported by EA at closing | The closing report used a cash figure below the announcement estimate and specified the number of shares issued. |
| Accounting purchase price | $732 million total purchase price, including stock valued at $87 million, in EA’s fiscal 2013 filing | An accounting figure reflecting acquisition-date values, not the announcement headline or the maximum possible earn-out. |
These figures answer different questions: what EA announced, what it delivered at closing, what it set aside for employee retention, what it could owe if milestones were met, and what it recorded for accounting purposes. They should not be summed into a single price.
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- Please note that although this game is Region Free or Region Unlocked and will work on all systems, this is the international version and may differ from the local version in age rating, labeling or instructions.
Why did EA buy PopCap?
EA said PopCap would strengthen its position in casual gaming and expand its digital offerings. EA’s 2011 investor presentation characterized the acquisition as a way to accelerate its digital strategy. That was EA’s stated rationale and expectation at the time, rather than proof of subsequent financial results.
The presentation also reported that 80% of PopCap revenue came from digital channels in calendar year 2010 and that revenue grew more than 40% in the quarter ending March 2011. Those were company-reported historical figures and period-specific growth, not current measures or guaranteed future performance.
Rank #2
- Disc only. Original case and manual not included. Will come packaged in a generic case.
- This renewed game has been cleaned, tested, and shows minimal wear.
What games did PopCap make?
PopCap’s well-known franchises included Plants vs. Zombies, Bejeweled, Zuma, Peggle, and Bookworm. EA’s July 2011 announcement said PopCap games had been downloaded more than 1.5 billion times and that Bejeweled had sold more than 50 million units. Those are EA’s historical figures from 2011, not current totals.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to PopCap’s game properties afterward?
In January 2013, Hasbro and PopCap announced a licensing deal to create face-to-face games based on PopCap properties, including Bejeweled. That announcement documents a historical licensing arrangement; it does not establish whether those products are available today.
Quick Recap
Best Value
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Rank #4
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Rank #3
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