Electronic Arts has closed its $55 billion acquisition by a consortium led by Saudi Arabia’s Public Investment Fund, taking the publisher private after more than three decades on the public markets. EA announced the completion on August 4, confirming that stockholders will receive $210 in cash for each share they held at closing and that EA’s common stock has ceased trading and will be delisted from Nasdaq.
The deal, first announced on September 29, 2025 and approved by EA stockholders on December 22, 2025, is the largest leveraged buyout in the industry’s history, supported by more than $20 billion in debt financing. The consortium pairs PIF, which had been a minority investor in EA for more than five years, with technology investment firm Silver Lake and Miami-based Affinity Partners, the firm founded by Jared Kushner. All required regulatory approvals were granted last week, with the European Commission clearing the transaction under the EU Merger Regulation in late July and the completion arriving days after those final clearances.
Andrew Wilson remains chairman and CEO. In a memo to employees reported by GamesIndustry.biz, Wilson appointed Cam Weber as chief studios officer and David Tinson as chief operating officer, with both executives also named company presidents. “We have a deeply experienced leadership team across the company, and as our opportunities continue to expand, I’m excited to partner with Cam and David,” Wilson wrote. “Together, we’ll continue building the world’s greatest games, communities, and creative culture.”
What the new owners have said
PIF deputy governor Turqi Alnowaiser framed the fund’s stake as a long-term commitment to EA’s sports and entertainment portfolio. “Having been a minority investor in the company for more than five years, we have a deep understanding of EA’s unique platform, massive global sports and gaming franchises, and iconic IP,” Alnowaiser said. “Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest growing and evolving sectors around the world.”
Silver Lake’s CEO Egon Durban pointed to AI-assisted development as a priority, saying the firm admires “how EA’s innovation fuels imagination and human connection” and is “excited to partner with Andrew and the EA team as they raise the bar for fans everywhere.” Kushner said Affinity is “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.”
EA reported approximately $7.5 billion in GAAP net revenue for fiscal year 2026, driven by franchises including EA Sports FC, Battlefield, Apex Legends, The Sims, Madden NFL and College Football. The consortium was advised by J.P. Morgan, with Goldman Sachs serving as EA’s financial advisor and Wachtell, Lipton, Rosen & Katz as its legal advisor. With the transaction complete, EA no longer reports quarterly earnings to public markets, and its shares, which had traded on Nasdaq since the company’s 1989 initial public offering, are gone from the exchange. The buyout places one of gaming’s biggest sports and entertainment portfolios under sovereign wealth ownership, ending EA’s roughly 37-year run as a public company.
