PopCap Games, the studio with a portfolio including Bejewelled and Plants vs Zombies, is being acquired for over $1 billion, according to TechCrunch.
It is currently unknown who the buyer is, however rumours are circulating that it is in fact Electronic Arts.
If this is the case, the $1 billion price tag represents 13% of EA's $7.49 billion market cap.
This wouldn't be the first time EA showed interest in a successful startup company: in 2009 the publisher bought Playfish for nearly $400 million.
With the incredible popularity of casual games, particularly with iOS titles it's not surprising EA would want to strengthen its position in this area. Back in October 2010 EA acquired independent games publisher Chillingo, giving it a much greater presence in the iOS market.