Video game developer Electronic Arts (EA) has been bought out by a group of investors in what is now the largest-ever buyout from private equity firms.
The consortium of investors, which includes Silver Lake, PIF, and Affinity Partners, will be acquiring EA for $55 billion and will be taking the company private.
Silver Lake is a well-known name in the tech sector and was most recently in the news for being one of the Trump administration-approved U.S. companies to take over TikTok. PIF is Saudi Arabia’s Public Investment Fund and has largely funded Affinity Partners, which was founded by President Donald Trump’s son-in-law Jared Kushner.
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EA is one of the biggest video game developers in the world, with titles ranging from FIFA to Battlefield to The Sims franchise.
“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” said EA Chairman and CEO Andrew Wilson in a statement. “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.”
As previously reported by Mashable, Saudi Arabia has made a number of investments in the video game industry in recent years. PIF holds stake in Nintendo, Call of Duty and World of Warcraft developer Activision Blizzard, and the developer of the Grand Theft Auto franchise Take-Two Interactive. In fact, PIF already held a nearly 10 percent stake in EA at the time of the acquisition.
The PIF launched the Savvy Games Group in 2021 specifically dedicated to video game and esports-related investments. Saudi Crown Prince Mohammed bin Salman serves as the chairman for the Savvy Games Group.
Topics
Gaming
Video Games
