Gaming giant Electronic Arts (EA), publisher of blockbuster series including EA Sports FC, The Sims and Mass Effect, has been sold in a record-breaking $55bn (£41bn) leveraged buyout.
The deal, involving Saudi Arabia’s Public Investment Fund (PIF), private equity firm Silver Lake and Jared Kushner’s Affinity Partners, is the largest leveraged buyout in history. It will take EA private, with all public shares purchased at $210 each, a 25% premium on its market value.
The only bigger deal in the sector was Microsoft’s $69bn takeover of Activision Blizzard, which faced heavy regulatory scrutiny before completion last year.
EA Boss to Stay On
EA chief executive Andrew Wilson will remain in post, describing the agreement as “a powerful recognition” of the company’s legacy.
“Together with our partners, we will create transformative experiences to inspire generations to come,” he said.
The consortium will contribute around $36bn in equity, with the remainder financed through loans. That level of borrowing is raising concerns within the gaming industry.
Industry Concerns Over Debt
Analyst Christopher Dring told the BBC the deal had “created a lot of anxiety” within gaming.
“An acquisition from private equity is a surprise, and there are concerns about the $20bn debt. Servicing that debt will rely heavily on the revenue from EA’s biggest franchises, like EA Sports FC, Madden and Battlefield,” he said.
Dring warned this could limit investment in new projects and increase pressure for job cuts if private investors demand higher cash flow.
Saudi Arabia’s Growing Gaming Influence
For Saudi Arabia, the deal represents another major step in its expansion into gaming.
In 2023, PIF subsidiary Savvy Games Group bought Monopoly Go developer Scopely for $4.9bn.
In 2025, the fund spent $3.5bn acquiring the gaming arm of Niantic, makers of Pokémon Go.
Saudi Arabia also holds stakes in Nintendo and Take-Two Interactive and has hosted major esports events, including the eSports World Cup.
The kingdom is also preparing to host the Olympic Esports Games in 2027.
A Legacy Publisher
Founded in 1982, EA has sold hundreds of millions of games worldwide:
- EA Sports FC/FIFA series – 325m copies since 1993
- The Sims – 200m copies
- Need for Speed – 150m copies
Its catalogue also includes collaborations on Harry Potter and James Bond titles.
Human Rights Questions
Saudi Arabia’s increasing role in global gaming has prompted criticism given its human rights record. Crown Prince Mohammed bin Salman oversees PIF, which has assets worth hundreds of billions.
A 2019 UN investigation found the Saudi state responsible for the murder of journalist Jamal Khashoggi — allegations the kingdom has repeatedly denied.
