Video game giant Electronic Arts closes $55 billion go-private sale of its business
Summary
Electronic Arts (EA), the video game company behind popular games like "Battlefield" and "The Sims," has been sold for $55 billion. The new owners include Saudi Arabia’s Public Investment Fund (PIF), Silver Lake Partners, and Affinity Partners, run by President Donald Trump’s son-in-law Jared Kushner. EA’s stock is no longer publicly traded after the deal.Key Facts
- EA was sold for $55 billion, the largest private equity buyout in history.
- New owners are Saudi Arabia’s PIF, Silver Lake Partners, and Affinity Partners (run by Jared Kushner).
- PIF already owned a small stake in EA before this full purchase.
- EA’s CEO said the company will focus on innovation and new games under private ownership.
- The deal was funded with $20 billion in debt, which may lead to cost cuts or layoffs.
- There are concerns about Saudi Arabia’s role due to human rights issues and potential security risks with AI use.
- EA’s popular sports games like “Madden NFL” and “EA Sports FC” are now part of this new ownership.
- EA stockholders received $210 per share, and EA stock is no longer traded on public markets.
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