Saudi-led group completes $55bn purchase of gaming giant EA
A consortium led by Saudi Arabia's Public Investment Fund has completed a $55bn purchase of Electronic Arts, the maker of titles including The Sims and EA FC. The deal takes the publisher into private ownership while loading it with significant new debt.
A consortium led by Saudi Arabia's Public Investment Fund has completed a $55bn acquisition of Electronic Arts, marking one of the largest private-equity buyouts in the video game industry's history.
The deal takes the publisher of The Sims, EA FC and Battlefield out of public markets and into private ownership. The purchase was financed heavily through debt, leaving the company with a substantial new leverage burden.
Analysts say the acquisition reflects accelerating consolidation across the gaming sector. EA's new owners are expected to pursue cost savings and new revenue strategies to manage the added debt load going forward.
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