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Electronic Arts goes private in $55 billion buyout
Electronic Arts has completed a $55 billion buyout by PIF, Silver Lake, and Affinity Partners, taking the game publisher private.
Image: ITzine
Electronic Arts has completed a $55 billion sale to a group of private investors and left the stock market, according to ITzine, citing Phandroid. The consortium includes Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), investment firm Silver Lake, and Affinity Partners, the firm owned by Jared Kushner.
PIF already held about 10% of EA before the buyout and is now the company’s largest owner. EA’s leadership will remain in place, with CEO Andrew Wilson continuing to run the publisher.
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The new owners have promised to invest in game development, digital infrastructure, and artificial intelligence technologies. EA’s existing services and franchises are expected to continue operating without changes. The publisher’s portfolio includes Madden NFL, EA Sports FC, Mass Effect, and The Sims.
Under the deal, EA shareholders will receive $210 in cash for each common share. The company is also developing a Battlefield feature film, an adaptation involving Christopher McQuarrie and Michael B. Jordan, adding a major entertainment project to the publisher’s game business.
Culture Editor
Maya explores gaming, streaming, and the internet as a place where people actually live. From deep-dives into creator economies to the anthropology of digital communities, she tracks platform drama and cultural shifts so you don't have to. She believes the best tech stories are fundamentally about human behavior.
via ITzine
