Friday's reports that Electronic Arts planned to go private were publicly confirmed Monday morning. Silver Lake, Saudi Arabia's Public Investment Fund (PIF), and Jared Kushner's Affinity Partners will join together to pay an estimated $55 billion for the video game mega-publisher in a deal being described as the "largest all-cash sponsor take-private investment in history."
EA stockholders will receive $210 per share in the deal, a 25 percent premium on the $168.32 price for a share at the close of business last Thursday (and well above the stock's $179 all-time-high share price). Share in EA closed at $193.35 on Friday after reports of the private sale first broke and are selling for roughly $203.50 per share in pre-market trading as of this writing.
EA CEO Andrew Wilson, who is expected to stay on after the deal is finalized in early 2027, said in a public note to employees that "this moment is a recognition of your creativity, your innovation, and your passion. You have built some of the world’s most iconic IP, created stories that have inspired global communities, and helped shape culture through interactive experiences. Everything we have achieved – and everything that lies ahead – is because of you."
The buyers
The Saudi Arabian PIF already owned 9.9 percent of EA's outstanding public stock and will roll-over that investment into this leveraged buyout. The rest of the purchase will consist of roughly $36 billion in equity investment provided in cash by the three partner firms as well as $20 billion in leveraged debt provided by JPMorgan Chase Bank.
The Saudi Arabia PIF also has significant investments in gaming giants such as Nintendo, Take Two, Activision Blizzard Capcom, Nexon, and Koei Tecmo managed through the Savvy Games Group. In 2023, the PIF backed out of a mulled $2 billion deal for gaming acquisition firm Embracer Group.
Silver Lake was part of the consortium involved in this month's controversial deal to bring Tiktok under the control of US-based companies. Back in 2013, the private investment firm also helped take computer-maker Dell private in a $25 billion deal.
Affinity Partners CEO Jared Kushner, the son-in-law of President Trump, said in a statement that he has "admired [EA's] 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."
EA first went public with an IPO on the NASDAQ stock exchange in 1990, and by 1996 its market cap had risen to $1.61 billion. Last week, the company's valuation was hovering around $43 billion.
EA brought in $7.5 billion in revenue in the 2025 fiscal year (ending March 31) on the strength of franchises including Madden NFL, EA Sports FC, Battlefield, The Sims, Dragon Age, and Plants vs. Zombies.
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