PopCap games secures us$22.5 million in funding led by Meritech capital Partners
- SEATTLE, Washington and DUBLIN, Ireland - October 6, 2009 - PopCap Games, the leading developer and publisher of the world's most widely played video games, today announced that it has secured US$22.5 million in funding led by Meritech Capital Partners, one of the preeminent late-stage investment firms.
Electronic Arts Inc , the video game publisher, is buying PopCap Games in a deal worth up to $1.3 billion as it tries to ramp up its social and casual games portfolio and better compete with Zynga Inc. As part of the deal, EA said it will pay about $650 million in cash and $100 million in common stock upfront for the maker of the popular video games ``Bejeweled'' and ``Plants vs. EA could pay up to an additional $550 million if PopCap reaches certain performance targets in about two years.