Report: PopCap to be acquired for more than $1 billion |
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Report: PopCap to be acquired for more than $1 billion
Big news in the gaming space today: Seattle casual game company PopCap, maker of hits like Bejeweled and Plants vs. Zombies, is reportedly being acquired for over $1 billion. The catch is that the buyer is unknown and PopCap isn't talking.
"It's company policy not to comment on rumors and speculation," said Garth Chouteau, vice president of public relations for the company.
TechCrunch was the first to break the news that the game maker may be in the process of being acquired. Though the deal is merely speculation at this point, the news outlet suggested a few potential buyers, including Electronic Arts and Chinese company Tencent.
The company, led by CEO Dave Roberts, has made a series of aggressive moves lately. In April, it rolled out a new, independent game label, 4th & Battery, and acquired social game company ZipZapPlay to expand its Facebook games. In recent years, it has expanded into the gaming market in Asia, and was considering a possible IPO this fall.
PopCap has raised $22.5 million to date. Estimated annual revenues range from $100 million to $150 million, but in 2010, the company saw $100 million in sales.
Previous coverage: PopCap CEO: Great games will beat Zynga’s social media muscle
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