Largest all-cash gaming deal ever: EA to go private for $55 billion

Electronic Arts Inc. (EA), one of the world’s most iconic video game publishers, is set to go private in a blockbuster $55 billion all-cash acquisition by an investor consortium led by Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Affinity Partners. The deal, approved by EA’s board of directors, marks the largest all-cash sponsor buyout in history, reshaping the landscape of the interactive entertainment industry.

Under the terms of the agreement, the consortium will acquire 100% of EA’s outstanding shares, with PIF rolling over its existing 9.9% stake. EA shareholders will receive $210 per share in cash — a 25% premium over EA’s last unaffected closing price of $168.32 on September 25, 2025. The premium also exceeds the company’s previous all-time high of $179.01 recorded in August 2025.

Andrew Wilson, EA’s Chairman and CEO, is set to remain at the helm, leading the company through its next phase.

This moment is a powerful recognition of our teams’ remarkable work. Together with our partners, we will create transformative experiences to inspire generations to come — Andrew Wilson, EA’s CEO.

The new ownership structure aims to accelerate innovation, expand EA’s global reach, and create new forms of engagement across gaming, sports, and entertainment, according to the EA press release.

The consortium emphasized both financial and strategic synergies. Commenting on the deal, PIF Deputy Governor Turqi Alnowaiser highlighted the fund’s commitment to building a global gaming ecosystem. Silver Lake’s Egon Durban praised Wilson’s leadership, noting that EA’s revenue doubled and market cap quintupled during his tenure. Affinity Partners CEO Jared Kushner also expressed enthusiasm, pointing to EA’s cultural impact and future potential, noting the personal connection shared by millions of players worldwide.

The buyout will be financed through $36 billion in equity from the three firms — with PIF rolling over its existing shares — and $20 billion in debt commitments led by JPMorgan Chase. Upon closing, expected in EA’s fiscal Q1 2027 pending shareholder and regulatory approval, the publisher’s stock will be delisted from public markets.

EA, headquartered in Redwood City, California, will continue to operate independently under its own brand, developing and publishing titles from franchises such as EA Sports FC, Madden NFL, Battlefield, Apex Legends, The Sims, Need for Speed, and more. The deal is not expected to impact day-to-day operations or EA’s global teams.

If completed, the acquisition would mark a watershed moment not only for Electronic Arts but for the gaming industry as a whole, underscoring the growing interest of private equity in interactive entertainment.