Key Takeaways
- • A consortium of Saudi Arabia's Public Investment Fund (PIF), private equity firm Silver Lake, and Affinity Partners agreed to acquire Electronic Arts (EA) in a $55 billion all-cash leveraged buyout, announced September 29, 2025.
- • EA shareholders would receive $210 per share in cash, according to reports on the deal terms.
- • Approximately $20 billion in committed debt financing supports the transaction, per CreditSights.
- • The deal is described as the largest leveraged buyout on record and the second-largest video game transaction ever, behind Microsoft's 2023 acquisition of Activision Blizzard.
- • The acquisition gives PIF control of major EA franchises, including EA Sports FC, Madden NFL, Battlefield, The Sims, and Need for Speed, as part of Saudi Arabia's effort to diversify its economy beyond oil.
Summary
On September 29, 2025, Electronic Arts announced that it would be acquired by a consortium led by Saudi Arabia's Public Investment Fund, alongside private equity firm Silver Lake and Affinity Partners, the investment firm associated with Jared Kushner. The transaction is valued at $55 billion and is structured as an all-cash take-private. Under its terms, EA stockholders would receive $210 per share in cash. Reporting from CreditSights indicates the buyout is backed by approximately $20 billion in committed debt financing.
The deal is notable for its scale. Sources describe it as the largest leveraged buyout in history and the second-largest video game merger and acquisition transaction ever, surpassed only by Microsoft's 2023 acquisition of Activision Blizzard. For PIF, the investment is part of a broader strategy to diversify Saudi Arabia's economy away from oil by expanding its holdings in global entertainment and gaming.
EA is a major publisher whose results have depended heavily on its largest franchises, including EA Sports FC, the successor to FIFA, and Madden NFL. The portfolio also includes Battlefield, The Sims, and Need for Speed. Earlier in 2025, the company had lowered its financial forecast because of weaker demand for soccer-themed titles, according to background information on the company. The buyout gives the consortium control of these franchises as the company moves into private ownership.
The deal is notable for its scale. Sources describe it as the largest leveraged buyout in history and the second-largest video game merger and acquisition transaction ever, surpassed only by Microsoft's 2023 acquisition of Activision Blizzard. For PIF, the investment is part of a broader strategy to diversify Saudi Arabia's economy away from oil by expanding its holdings in global entertainment and gaming.
EA is a major publisher whose results have depended heavily on its largest franchises, including EA Sports FC, the successor to FIFA, and Madden NFL. The portfolio also includes Battlefield, The Sims, and Need for Speed. Earlier in 2025, the company had lowered its financial forecast because of weaker demand for soccer-themed titles, according to background information on the company. The buyout gives the consortium control of these franchises as the company moves into private ownership.
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