EA to go private in US$55b buyout, largest in gaming history

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Electronic Arts (EA) has entered into a definitive agreement to be acquired by an investor consortium comprising Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Affinity Partners in an all-cash deal worth an estimated US$55 billion.

The deal, which EA described as the largest all-cash sponsor take-private investment in history, is expected to close in Q1 FY27, subject to regulatory and shareholder approvals. Once completed, EA will delist from public markets and remain headquartered in Redwood City, California, with Andrew Wilson continuing as CEO.

The consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the company. Under the agreement, EA stockholders will receive US$210 per share in cash, a 25% premium to EA’s unaffected share price of US$168.32 on 25 September 2025, and above its previous all-time high of US$179.01 in August this year.

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According to EA, the consortium’s networks across gaming, entertainment, and sports are expected to create opportunities to “blend physical and digital experiences, enhance fan engagement, and drive growth on a global stage”.

EA added that it will not hold its usual earnings call for Q2 FY26 on 28 October, and will release results via press release only.

“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. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson, chairman and CEO of Electronic Arts.

He added, “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. I am more energised than ever about the future we are building.”

In tandem, Luis A. Ubiñas, lead independent director of EA’s board of directors said, "The Board carefully evaluated this opportunity and concluded it delivers compelling value for stockholders and is in the best interests of all stakeholders. We are pleased that this transaction delivers immediate and certain cash value to our stockholders while strengthening EA’s ability to continue building the communities and experiences that define the future of entertainment.”

Speaking on the acquisition, Jared Kushner, CEO of Affinity Partners said, "EA is an extraordinary company with a world-class management team and a bold vision for the future. I've admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games - and now enjoys them with his kids - I couldn't be more excited about what's ahead."

Turqi Alnowaiser, PIF’s deputy governor and head of international investments, said the fund sees itself as uniquely positioned within the global gaming and esports sectors, with a focus on building ecosystems that connect fans, developers, and IP creators. He noted that PIF’s commitment to these areas would support EA’s long-term growth and drive broader industry innovation worldwide.

Silver Lake’s co-CEO and managing partner, Egon Durban, described EA as a leading player in interactive entertainment, anchored by its sports franchises and supported by strong financial performance. He highlighted Wilson’s leadership in driving revenue and market growth, and said Silver Lake intends to invest heavily to help EA expand globally, accelerate innovation, and continue delivering experiences to players across generations.

In recent quarters, EA has reported mixed results across its portfolio. Its EA SPORTS FC franchise, The Sims, and US college football titles delivered strong growth in FY25, helping net bookings climb to about US$7.35 billion.

However, underperformance from Global Football and Dragon Age led the company to revise down its guidance earlier this year. Q1 FY26 saw a rebound, with results beating expectations on the back of Apex Legends, EA SPORTS and catalog titles. At the same time, the company has been trimming costs, cutting jobs and shelving projects at studios such as Respawn Entertainment and Codemasters to concentrate resources on fewer, higher-impact releases.

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