PIF-led consortium completes $55 billion acquisition of Electronic Arts

A consortium led by Saudi Arabia's Public Investment Fund (PIF), alongside Affinity Partners and Silver Lake, has completed its $55 billion acquisition of Electronic Arts (EA). The deal takes the 36-year-old public company private, offering shareholders $210 per share. The acquisition aligns with Saudi Arabia's 2030 gaming strategy to diversify its economy. EA, which recently faced stagnant revenues and job cuts, will remain in Redwood City, California, under CEO Andrew Wilson, freed from quarterly reporting pressures.

PIF-led EA acquisition completion

• ▪The acquisition of Electronic Arts received shareholder approval on December 22 and final regulatory approval from the European Union shortly before completion.
• ▪A consortium led by Saudi Arabia's Public Investment Fund completed its approximately $55 billion acquisition of Electronic Arts on August 4, 2026.
• ▪Upon completion of the acquisition, Electronic Arts shareholders received $210 in cash per share, and the company's shares ceased trading on the Nasdaq.

Saudi gaming industry strategy

• ▪Saudi Arabia's National Gaming and Esports Strategy, launched in 2022, aims to establish 250 gaming companies and create 39,000 jobs by 2030.
• ▪Saudi Arabia's Public Investment Fund held a minority investment in Electronic Arts for more than five years prior to the 2026 acquisition.

EA revenue stagnation trends

• ▪Electronic Arts reported lower than expected revenues on August 3, 2026, citing a decline in engagement with its latest Battlefield game.
• ▪Electronic Arts' annual revenues have stagnated in recent years, hovering between $7.4 billion and $7.6 billion.
• ▪Electronic Arts laid off approximately 5% of its workforce in 2024 and cut several hundred additional jobs in May 2025.

Gaming industry competitive landscape

• ▪Electronic Arts faces intensified competition from mobile video game makers, including Epic Games.
• ▪Microsoft acquired Activision Blizzard, one of Electronic Arts' primary competitors, for approximately $69 billion in 2023.

Consortium partner composition

• ▪The purchasing consortium consists of Saudi Arabia's Public Investment Fund, Silver Lake Partners, and Jared Kushner's Affinity Partners.
• ▪Following the acquisition, Electronic Arts will remain headquartered in Redwood City, California, under the leadership of Chief Executive Officer Andrew Wilson.

Private ownership transition implications

• ▪The $55 billion acquisition takes Electronic Arts private, ending the video game publisher's 36-year history as a publicly traded company.
• ▪As a private entity, Electronic Arts is exempt from quarterly financial reporting, which analysts say may reduce pressure to meet short-term targets.

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