The deal is said to be worth an initial $750 million (£460m) - $650 million (399m) in cash and $100 million (£61m) in stocks - though the price tag could eventually rise to $1.3 billion (£798m).
"It's the perfect fit," EA executive Barry Cottle told Gamasutra. "The culture fits, the respect, the talent – they create killer IP. They're the Pixar of the game industry. This just makes us a force to be reckoned with."
PopCap founder John Vechey added: "PopCap needs to do what PopCap does. We're going to take advantage of their world-class digital publishing so we can just focus on making great games."
PopCap is best known as the creator of the Bejeweled, Peggle and Plants vs. Zombies franchises. The company turned in profits of $100 million (£61m) last year.
EA first announced that it had tabled a bid for PopCap early last month.