RIYADH: A consortium led by Saudi Arabia’s Public Investment Fund has completed its approximately $55 billion acquisition of Electronic Arts, advancing the Kingdom’s ambitions to become a global gaming hub.
The consortium, which also includes technology investment firm Silver Lake and Affinity Partners, first announced the deal on Sept. 29. It received shareholder approval at a special meeting on Dec. 22, according to statements issued by PIF and EA.
Upon completion, EA became a privately held company, with shareholders receiving $210 in cash for each outstanding share. The company’s shares have ceased trading on the Nasdaq Stock Market.
The transaction marks another step in Saudi Arabia’s push to expand its footprint in the global gaming industry as part of its broader economic diversification strategy.
Under the National Gaming and Esports Strategy, launched in 2022, the Kingdom aims to establish 250 gaming companies, create 39,000 jobs, and increase the sector’s contribution to gross domestic product to SR50 billion ($13.3 billion) by 2030.
PIF has expanded its footprint across the global gaming ecosystem through portfolio companies and strategic partnerships. The fund has said its gaming strategy focuses on supporting developers, publishers, and esports organizations while positioning Saudi Arabia as a global hub for the industry.
“This is the moment gaming was recognized as a mature, investable asset class, and it arrived exactly when the industry needed capital the most. EA’s debt syndication drew roughly $45 billion of investor demand against about $15 billion of paper, and priced tighter than expected in a genuinely volatile credit window,” Shahid Khan, an Arthur D. Little partner told Arab News.
“Investors are now willing to underwrite interactive entertainment the way they underwrite infrastructure, which is as durable, recurring cash flow rather than speculative creative risk. With private investment into gaming having fallen by more than half in 2025, that repricing lifts every serious publisher’s access to capital, not only EA’s,” he added.
Turqi Al-Nowaiser, deputy governor and head of international investments at PIF, said: “Having been a minority investor in the company for more than five years, we have a deep understanding of Electronic Arts’ unique platform, massive global sports and gaming franchises, and iconic IP.”
He added: “Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest growing and evolving sectors around the world. Together, the consortium is uniquely positioned to be a long-term partner to Electronic Arts’ management team in driving sustained growth and innovation for Electronic Arts and the industry.”
EA welcomes new ownership
Andrew Wilson, chairman and CEO of EA, said the company is entering “this next chapter from a position of strength” with partners that shared its long-term vision.
“Together, we’ll invest boldly, accelerate innovation, and build the next generation of games and experiences for the hundreds of millions of players and fans who inspire us every day,” Wilson said.
When the deal was announced in September, the companies described it as “the largest all-cash sponsor take-private investment in history,” saying the consortium would work closely with EA to accelerate innovation and unlock new growth opportunities globally.
They also said EA would remain headquartered in Redwood City, California, and continue to be led by CEO Andrew Wilson.
