PopCap, makers of casual games like Plants vs. Zombies, Peggle, and Bejeweled, will be acquired by EA for $750 million. The announcement comes just weeks after initial rumors pegged a one billion dollar acquisition by EA. In actuality, EA will pay approximately $650 million in cash and $100 million in shares of EA common stock to "certain stockholders" of PopCap.

EA has been aggressively pursuing the digital and casual market, and the PopCap acquisition will help augment EA's growing portfolio in the arena. It purchased Playfish two years ago, a deal which has translated some of its biggest properties into Facebook games.

"EA and PopCap are a compelling combination," said EA CEO John Riccitiello in a press release. "PopCap's great studio talent and powerful IP add to EA's momentum and accelerate our drive towards a $1 billion digital business. EA's global studio and publishing network will help PopCap rapidly expand their business to more digital devices, more countries, and more channels."

"We picked EA because they have recast their culture around making great digital games," said David Roberts, CEO of PopCap. "By working with EA, we'll scale our games and services to deliver more social, mobile, casual fun to an even bigger, global audience."

The deal is expected to close next month, subject to "customary closing conditions" and "regulatory approvals." EA will have a press conference soon, and we'll update with further details.