Digital Arts mentioned on Tuesday that its acquisition by Saudi Arabia’s Public Funding Fund, Silver Lake and Affinity Companions had closed, valuing the video games writer at about $55bn (£41bn). Shareholders obtain $210 in money for every share.
EA’s completion assertion mentioned its frequent inventory had ceased buying and selling and could be delisted from Nasdaq. The consortium’s settlement was introduced on 29 September 2025 and permitted by shareholders at a particular assembly on 22 December 2025.
The transaction is considered the biggest leveraged buyout in historical past. Alongside the roughly $36bn of fairness dedicated, the consortium is borrowing $20bn organized by JPMorgan, with the debt carried by EA. J.P. Morgan Securities acted because the consortium’s monetary adviser. It ranks because the second-biggest acquisition in gaming, after Microsoft’s $69bn buy of Activision Blizzard.
Andrew Wilson, chairman and chief govt, who retains his place, mentioned within the assertion: “We’re coming into this subsequent chapter from a place of power with companions who share our imaginative and prescient and ambition.”
Turqi Alnowaiser, deputy governor and head of worldwide investments at PIF, mentioned within the fund’s announcement: “Leisure and sports activities are key areas of strategic focus for PIF, and are among the many quickest rising and evolving sectors world wide.” PIF says it manages greater than $900bn in property.
Jared Kushner, chief govt of Affinity Companions and son-in-law of US President Donald Trump, mentioned EA “has created tales, characters, and communities which have turn into a part of on a regular basis life for lots of of hundreds of thousands of individuals”.
How EA companies the borrowing has been the topic of hypothesis amongst analysts and journalists because the file buyout was introduced final September. Bloomberg’s Jason Schreier wrote that it might result in “mass layoffs, extra aggressive monetization, and different huge cost-cutting measures”.
Christopher Dring, editor-in-chief and co-founder of the Recreation Enterprise, mentioned the character of the buyout was more likely to imply “a really hands-on method from the funding group”. He mentioned: “Non-public fairness companies are usually aggressive of their administration of corporations.”
EA posted web income of about $7.5bn within the yr to 31 March 2026. Battlefield 6, launched final October, offered greater than 7 million copies in its first three days, a franchise file. Additional layoffs adopted on the groups concerned.
George Osborn, journalist and creator of Energy Play: Video Video games, Politics and the Battle for World Affect, mentioned the value nonetheless made EA an “interesting” alternative for PIF, pointing to the corporate’s longevity and its “seemingly evergreen” live-service titles, that are up to date repeatedly after launch.
However he mentioned EA’s worth to the fund was “not purely financial”, describing it as a substitute as “proudly owning a smooth energy asset that’s quietly entrenched within the sporting neighborhood”.
The deal extends a run of Saudi sports activities and gaming investments that features the £300m takeover of Newcastle United, 4 golf equipment within the Saudi Professional League and the Esports World Cup, held in 2025. PIF’s different UK holdings embody a 40 per cent stake in Selfridges.
These purchases have drawn accusations of sportswashing, the sponsoring or internet hosting of sporting occasions to advertise a optimistic public picture and divert consideration from human rights points. The Saudi authorities has spent years denying such claims.
The advocacy group Gamers Alliance HQ has requested avid gamers to petition their native politicians towards the deal. Its marketing campaign web site says: “With the PIF being the bulk proprietor within the potential buyout, there’s a giant concern that artistic selections may very well be influenced by these exterior elements, resulting in themes akin to free speech, gender, LGBTQI+ and different features of Western politics being lowered or absolutely censored throughout main franchises.”
In Saudi Arabia, consensual same-sex sexual conduct could be punishable by dying or flogging beneath interpretations of Sharia regulation. Titles in EA’s catalogue together with The Sims function same-sex relationships.
Osborn mentioned the acquisition handed the fund “a relationship with the 20,000 gamers, 750 golf equipment and 35 leagues on the high of the skilled recreation”.
“What is evident is {that a} state searching for to form perceptions now owns an asset with confirmed attain to billions of individuals,” he mentioned. “The way it makes use of it within the years to return is one thing we should always watch intently.”
Amy Ingham
Amy Ingham is a reporter at Enterprise Issues, overlaying UK enterprise information with a concentrate on breaking information, enterprise coverage, late funds and insolvency. She joined the journal in 2026 after finishing the NCTJ Diploma in Journalism at Harlow Faculty’s journalism faculty. Her current reporting consists of British Metal’s nationalisation and its affect on SME suppliers, the decline in late funds by giant companies, and Insolvency Service director disqualifications. Attain her at aingham@cbmeg.co.uk.
