Electronic Arts will be acquired by a group of private equity firms led by Silver Lake in a $55 billion deal, the company said Monday. EA stock rose more than 5% in early trades.
The consortium of private equity firms includes PIF, Saudi Arabia's sovereign wealth fund and Affinity Partners. EA stockholders will receive $210 per share in cash.
EA stock rose more than 5% to 204.10 in premarket trades.
Andrew Wilson, chairman and CEO of EA, said in a statement that the company "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."
Jared Kushner, CEO of Affinity Partners, called EA "an extraordinary company with a world-class management team and a bold vision for the future."
EA stock jumped Friday after the Wall Street Journal reported that the company was a nearing a deal with a group of investors to take the video game publisher private.
