Reports are coming in that PopCap, the makers of worldwide mega hits such as Bejeweled and Plants vs. Zombies are in the late stages of being wholly acquired by EA for… wait for it… ONE BILLION DOLLARS.

EA could be looking to bring hits such as these to mobile and social platforms and put a big ol’ EA logo on em.  Sounds like a plan, Stan… or John… whatever.

We’ll keep you updated as this story unfolds.

Via: [TechCrunch] <— Super serious big deal reliable source most of the time.

• EA Buys PopCap for a Gajillion Dollars – Plants vs. Madden Confirmed
• PopCap Closes Facebook Game with over 750,000 Users
• The Top 10 EA / PopCap Crossovers That Should Never Happen
• Take-Two Concludes Internal Strategic Review, Resumes Business as Usual
• New SSX Trailer Shows the Awesome of the Himalayas
• Shank 2 Out Now to Slice You Up

Back in mid August, we reported that Take-Two had opened its boardroom doors to EA with the intent to jointly evaluate “strategic” *cough*buyout*cough* options.

It appears now that those talks have concluded and that the two sides could not see eye to eye — or more importantly, wallet to wallet.

Hit the jump for the full press release and some optimistic “the glass is half full” quotes from Take-Two execs.

Take-Two Interactive Software, Inc. Announces Conclusion of Strategic Review Process

New York, NY – October 2, 2008 – Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced today that it has completed its review of strategic alternatives for the Company.

Following detailed discussions with various interested parties over the last five months, Take-Two’s Board of Directors has determined that it is in the best interests of stockholders to conclude its review of strategic alternatives and to continue operating and building Take-Two as an independent company.

“Take-Two’s Board of Directors and management have a clear mandate from stockholders to maximize value,” said Strauss Zelnick, Chairman of the Board of Take-Two. “We are strongly positioned creatively, financially and competitively to benefit from the opportunities we see in the fastest growing segment of the entertainment industry. Our management and outstanding and talented employees have maintained an unwavering focus on our products and our business through this lengthy strategic review process and we are confident in our prospects. We remain focused on maximizing value for stockholders and are executing on our business strategies in a determined manner.”

Ben Feder, Chief Executive Officer of Take-Two added, “Take-Two’s recent performance demonstrates our potential to create value for the long term. We have delivered solid financial results and expanded our portfolio of leading titles, which includes the powerful Grand Theft Auto franchise, as well as 15 other wholly owned brands with sales of more than one million units each. Our strong cash position – with no debt and an undrawn $140 million credit facility – gives us the financial flexibility to continue to do what we do best: innovate and create the great games that our customers have come to expect.”

• PopCap Reportedly Being Bought By EA for Over One Billion Dollars
• Take Two Q4 09 Financials, Plus Conference Call Reveals Unannounced Q4 2010 Game Release
• Show Me the Money: Former Executive Sues Take Two for $50 Million
• EA Responds to Take-Two’s “Show Me The Money” Request for Take Over
• EA to Destroy Videogaming Starting August 21st
• EA Gets Serious About Buying Take-Two, Takes Out $1 Billion Loan