Tech Cruch is reporting that Electronic Arts is about to acquire casual games giant Popcap Games for a cool $1 billion, which would exceed EA’s market cap by over 13%. If true, this would be EA’s definitive entry into the casual games market, a field they broke into 7 years ago.
Despite consuming a significant chunk of EA’s reserves. buying Popcap would bring them IPs such as Bejeweled, Plants Vs. Zombies, Peggle, Zuma and Bookworm.
We’ll keep an eye on this deal as it happens.

Electronic Arts is (was?) building a first-person-shooter based on the Command and Conquor series and was set to release on PC, Xbox 360 and PlayStation 3. The original title was originally slated for 2008 and now has been pushed to EA’s fiscal year 2009 or 20010.