Electronic Arts has agreed to a $55 billion deal to go private, confirming reports from last week. The video game publisher will be acquired by an investment group that includes Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Jared Kushner’s Affinity Partners.
In an official press release, EA confirmed that it has accepted an all-cash transaction valued at $55 billion, which will return $210 per share to EA stockholders as the company transitions to private ownership.
Each participating company shared their views on the deal:
“PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators,” said Turqi Alnowaiser, Deputy Governor and Head of International Investments at Saudi Arabia’s Public Investment Fund.
Egon Durban, Co-CEO and Managing Partner of Silver Lake, added, “The future for EA is bright. We are going to invest heavily to grow the business and are excited to support Andrew and the EA team as the company accelerates innovation, expands its reach worldwide, and continues to deliver incredible experiences to players and fans across generations.”
Jared Kushner, CEO of Affinity Partners and former Senior Advisor to President Donald Trump, shared his enthusiasm: “Electronic Arts 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.”
This landmark deal marks a significant shift for Electronic Arts as it embarks on the next phase of growth away from the public market spotlight.
https://www.shacknews.com/article/146148/electronic-arts-sale-saudi-arabia-silver-lake
