Another one of the biggest game publishers in the world is being sold. On Monday, Electronic Arts announced a $55 billion deal to take the publisher behind massive franchises like
Madden, The Sims, and Apex Legends private, selling to Saudi Arabia’s Public Investment Fund, Silver Lake Partners, and President Donald Trump son-in-law Jared Kushner’s Affinity Partners.
The all-cash deal values the company at a 25-percent premium over its mid-August stock price and is set to be finalized by mid-2026 pending shareholder and regulatory approvals. Current CEO Andrew Wilson will remain the head of the publisher which will stay headquartered in California. Roughly $20 billion of the sale is debt-financed through JPMorgan Chase Bank.
The sale builds on Saudi Arabia’s existing 10 percent ownership of the company which was built up in recent years amid investments across the larger gaming industry. Those included the $4.9 billion purchase of
Monopoly Go! mobile game maker Scopely in 2023 and the gobbling up of
Pokémon Go and Niantic’s other gaming businesses earlier this year
for $3.5 billion. The current $55 billion buyout of EA is not just the government-backed Public Investment Fund’s largest gaming acquisition to date, it’s also the largest sale ever to take an existing public company private.
“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” Wilson said in a press release. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”
The deal could reshape EA’s future
Founded back in 1982, EA has become a gaming empire vast with studios across the globe like
Mass Effect maker BioWare
Split Fiction developer Hazelight, as well as franchises like
Battlefield and
EA Sports FC (formerly known as
FIFA). It’s not yet clear how the deal will effect the size and scope of the roughly 15,000-person publisher, though this much money rarely changes hands without lots of people losing their jobs.
“EA has been challenged to innovate in the last decade,”
Wedbush Securities analyst Michael Pachter told
Kotaku in an email over the weekend
after news of the deal first leaked. “Several franchises have faded (
Mass Effect, Dragon Age, Burnout, NFS), some failed (
Anthem) and only a handful continue to produce. They suck at mobile and appear too focused on pleasing investors and not focused enough on pleasing gamers. I think the Saudis have the potential to jump-start mobile and to try innovative moves like making Ultimate Team free.”
Saudi Arabia’s funding partners include the private equity firms Silver Lake and Affinity Partners, the latter of which was founded by Kushner after Trump left office in 2021. Roughly half of its reported funding, approximately $2 billion,
is also from Saudi Arabia. “Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future,” Kushner said in a statement. “I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids–I couldn’t be more excited about what’s ahead.”
Saudi Arabia’s sportswashing campaign continues in gaming
The deal arrives amid fresh criticism of people selling out to the Saudi Royal family despite its record of human rights abuses. Organizations backed by PIF held the
Esports World Cup in Riyadh this summer and hosted talks with high-profile industry figures
like Hideo Kojima and Ubisoft CEO Yves Guillemot, whose company is currently producing an
Assassin’s Creed DLC set in Saudi Arabia. Outside the world of gaming, famous comedians like Bill Burr and Dave Chappelle were recently criticized for attending the Riyadh Comedy Festival.
“From the folks that brought you 9/11,” quipped
WTF podcast host Marc Maron
last week. “Two weeks of laughter in the desert, don’t miss it! The same guy that’s gonna pay them is the same guy that paid that guy to bone-saw Jamal Khashoggi and put him in a f***ing suitcase. But don’t let that stop the yuks, it’s gonna be a good time!”
The full press release is below:
Under the terms of the agreement, the Consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the Company. EA stockholders will receive $210 per share in cash. The per share purchase price represents a 25% premium to EA’s unaffected share price of $168.32 at market close on September 25, 2025, the last fully unaffected trading day, and a premium to EA’s unaffected all-time high of $179.01 at market close on August 14, 2025.
PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities. The transaction represents the largest all-cash sponsor take-private investment in history, with the Consortium partnering closely with EA to enable the Company to move faster and unlock new opportunities on a global stage.
“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson, Chairman & CEO of Electronic Arts. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”
“PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators,” said Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF. “PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA’s long-term growth, while fueling innovation within the industry on a global scale.”
“This investment embodies Silver Lake’s mission to partner with exceptional management teams at the highest quality companies. EA is a special company: a global leader in interactive entertainment, anchored by its premier sports franchise, with accelerating revenue growth and strong and scaling free cash flow. We are honored to invest and partner with Andrew – an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure,” said Egon Durban, Co-CEO and Managing Partner of Silver Lake. “The future for EA is bright, we are going to invest heavily to grow the business and we are excited to support Andrew and the EA team as the company accelerates innovation, expands its reach worldwide, and continues to deliver incredible experiences to players and fans across generations.”
“Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future. I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids – I couldn’t be more excited about what’s ahead,” said Jared Kushner, Chief Executive Officer of Affinity Partners.
“The Board carefully evaluated this opportunity and concluded it delivers compelling value for stockholders and is in the best interests of all stakeholders,” said Luis A. Ubiñas, Lead Independent Director of EA’s Board of Directors. “We are pleased that this transaction delivers immediate and certain cash value to our stockholders while strengthening EA’s ability to continue building the communities and experiences that define the future of entertainment.”
Transaction Details
The transaction was approved by EA’s Board of Directors, is expected to close in Q1 FY27 and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders. Following the close of the transaction, EA’s common stock will no longer be listed on any public market.
The transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF’s existing stake in EA, constituting an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.
Upon completion of the transaction, EA will remain headquartered in Redwood City, California and continue to be led by Andrew Wilson as CEO.
kotaku.com