Electronic Arts said on Tuesday that its acquisition by Saudi Arabia’s Public Investment Fund, Silver Lake and Affinity Partners had closed, valuing the games publisher at about $55bn (£41bn). Shareholders receive $210 in cash for each share.
EA’s completion statement said its common stock had ceased trading and would be delisted from Nasdaq. The consortium’s agreement was announced on 29 September 2025 and approved by shareholders at a special meeting on 22 December 2025.
The transaction is thought to be the largest leveraged buyout in history. Alongside the roughly $36bn of equity committed, the consortium is borrowing $20bn arranged by JPMorgan, with the debt carried by EA. J.P. Morgan Securities acted as the consortium’s financial adviser. It ranks as the second-biggest acquisition in gaming, after Microsoft’s $69bn purchase of Activision Blizzard.
Andrew Wilson, chairman and chief executive, who retains his position, said in the statement: “We’re entering this next chapter from a position of strength with partners who share our vision and ambition.”
Turqi Alnowaiser, deputy governor and head of international investments at PIF, said in the fund’s announcement: “Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest growing and evolving sectors around the world.” PIF says it manages more than $900bn in assets.
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