Electronic Arts (EA), one of the leading gaming companies, has officially announced that it will be acquired by a consortium led by the Public Investment Fund of Saudi Arabia (PIF). The company signed a $55 billion acquisition agreement with the consortium, which also includes Silver Lake and Affinity Partners.

Electronic Arts Becomes Private

According to the statement, upon completion of the deal, EA will cease to be a publicly traded company and become a privately held company. This acquisition is considered one of the Public Investment Fund of Saudi Arabia’s most significant moves in the gaming sector.

Details of the deal and other financial data, such as the amount to be paid per share, will be finalized upon completion of the acquisition process in the coming period. EA’s transition to a private company ushers in a new era in which investment funds will guide the company’s operational decisions and future strategies.

Following the news of the acquisition, discussions within the industry have erupted regarding how the deal will impact the future content and business models of popular games like FIFA, Battlefield, and The Sims.

Saudi Arabia’s investments in gaming and esports through the PIF in recent years indicate that this major acquisition is beginning to take on a more central role in the global gaming market. This acquisition is among the highest-value deals involving shares in a company in the gaming industry in recent times.

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