Video game publisher Electronic Arts has been acquired by a Saudi-led investor group in a $55 billion deal that takes the company private after 36 years as a publicly traded firm.
The consortium comprises Saudi Arabia’s Public Investment Fund (PIF), private equity firm Silver Lake and Affinity Partners, the investment vehicle run by Jared Kushner, son-in-law of US President Donald Trump. The transaction received final regulatory clearance from the European Union days earlier.
EA, known for franchises including The Sims, Madden NFL, Battlefield and EA Sports FC, confirmed the completion of the buyout on Tuesday. Shareholders will receive $210 in cash per share and the stock will be delisted from the Nasdaq.
“EA has created stories, characters, and communities that have become part of everyday life for hundreds of millions of people,” Kushner said. “We’re excited to support the company as it continues to reach new audiences, inspire the next generation of creators, and expand the ways people around the world connect through play.”
PIF, which already held a minority stake, now owns the vast majority of the company. The fund has been expanding its presence in gaming and entertainment as part of Saudi Arabia’s economic diversification drive.
EA chief executive Andrew Wilson will remain in his post. The company reported annual revenues of between $7.4 billion and $7.6 billion in recent years amid intensifying competition from mobile games and rivals such as Epic Games.
The deal ranks among the largest leveraged buyouts on record and the second-biggest acquisition in the gaming industry after Microsoft’s purchase of Activision Blizzard.
