EA has announced that the gaming giant has been acquired by a consortium that includes Saudi Arabia's PIF, Silver Lake, and Affinity Partners to the tune of $55 billion.
In a press release, the company stated it has entered a definitive agreement to be acquired by a consortium. The group, which includes Saudi Arabia's PIF, will acquire 100% of EA, with the PIF rolling over its existing 9.9% stake in the company. Shareholders will receive $210 a share as a result of the sale. Notably, that's a 25% premium on the $168.32 the share price closed at on September 25, the stock's last fully unaffected trading day.
EA says the buyer's group brings "deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities." EA also confirmed the deal is the largest all-cash sponsor take-private investment in history.
Andrew Wilson, Chairman & CEO of Electronic Arts, said that EA "will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”
Turqi Alnowaiser, Deputy Governor and Head of International Investments at Saudi Arabia's Public Investment Fund said, "PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators."
EA was founded in 1982 and is the publishing and development behemoth behind some of the most popular franchises in video games. Notable hits include the Madden franchise, FIFA (now FC), The Sims, Battlefield, Mass Effect, Skate, Rock Band, Need for Speed, and more.
The company's next big title is Battlefield 6, set to hit consoles and PCs on October 10 after a summer of generally positive public beta testing. The company's iconic Skate franchise is also currently running an Early Access test across platforms.
Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
