Electronic Arts has agreed to a $55 billion sale to go private, confirming a report from last week. The video game publisher will be purchased by an investment group that includes Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Jared Kushner’s Affinity Partners.
EA published a press release confirming that it has agreed to the $55 billion all-cash transaction. The deal will return $210 per share to EA stockholders as the company transitions to private ownership.
Each of the companies involved in the transaction shared their thoughts 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 we 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, also commented, “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 moment for Electronic Arts as it embarks on a new chapter as a private company backed by major global investors.
https://www.shacknews.com/article/146148/electronic-arts-sale-saudi-arabia-silver-lake
