REDWOOD CITY, Calif. — Electronic Arts has completed its $55 billion leveraged buyout by a consortium led by Saudi Arabia’s Public Investment Fund, taking the videogame publisher private in what ranks as the largest leveraged buyout on record.
The transaction, which was announced in September 2025, closed on Aug. 4 after the company obtained the required regulatory approvals. The consortium includes PIF, private investment funds affiliated with Silver Lake and funds affiliated with Affinity Partners, the investment firm founded by Jared Kushner.
Under the agreement, shareholders were entitled to receive $210 in cash for each EA share, representing a 25% premium to the company’s unaffected share price before reports of the transaction emerged. PIF rolled over its existing 9.9% stake rather than receiving cash for those shares.
The deal values EA at an enterprise value of about $55 billion and was financed with equity from the consortium and debt financing. JPMorgan Chase led the debt financing, with the transaction expected to leave the company with substantial new borrowing as part of the leveraged structure.
PIF is the largest investor in the new ownership structure, with reports putting its post-transaction stake at about 93.4%, while Silver Lake and Affinity Partners hold minority interests. EA is expected to remain headquartered in Redwood City, California, with Andrew Wilson continuing as chief executive.
The acquisition marks a major expansion of Saudi Arabia’s exposure to the global videogame industry. PIF has built investments across gaming and esports as part of a broader strategy to diversify the Saudi economy beyond oil. Its portfolio has included stakes in major game publishers and other companies connected to the sector.
EA reported record fiscal 2026 net bookings of $8.026 billion and operating cash flow of $2.553 billion for the year ended March 31. Net revenue was $7.531 billion, according to the company. EA said growth was supported by Battlefield 6 and its live-services portfolio.
The transaction ends EA’s run as a publicly traded company and shifts ownership of one of the world’s largest videogame publishers to private investors. EA’s portfolio includes major franchises such as EA Sports FC, Battlefield, The Sims and Apex Legends. The company has not announced a change to its existing leadership structure following completion of the buyout.
