Electronic Arts has agreed to a roughly $55 billion buyout led by Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners — the largest deal to take a publicly traded company private, surpassing the $32 billion (excluding debt) TXU acquisition from 2007.

The agreement, announced September 29, 2025, values EA at $210 per share in cash, a 25 percent premium to the company's pre-leak share price. JPMorgan Chase has committed $20 billion in financing. The deal targets closing in Q2 2026, contingent on shareholder approval and CFIUS clearance.

Who's behind the consortium

PIF already holds roughly 10 percent of EA and takes the lead investor role. Silver Lake brings approximately $110 billion under management and prior take-private experience through Dell Technologies. Affinity Partners, the firm managed by Jared Kushner, oversees about $5.4 billion and is known for minority stakes in companies such as Israel's Shlomo Group and Dubai-based Dubizzle.

PIF deputy governor and head of international investments Turqi Alnowaiser tied the acquisition to the fund's gaming thesis: the fund is "uniquely positioned in the global gaming and e-sports sectors, building and supporting ecosystems." EA CEO Andrew Wilson, who will continue leading the company from Redwood City, said: "I am more energized than ever about the future we are building."

The deal extends PIF's long-stated push into interactive entertainment. In 2021 the fund launched Savvy Games Group around a planned $38 billion industry commitment. Riyadh hosted the Esports World Cup this summer, a tournament offering $70 million in prize money.

What shifts for EA's product roadmap

EA's revenue centers on live-service sports titles — Madden NFL, EA Sports FC — alongside shooters including Battlefield and Apex Legends. Console and PC sales have softened industry-wide; players have moved toward free-to-play formats on mobile and connected TVs.

Analysts estimate PIF will push flagship EA IP toward broader distribution, potentially free-to-play across smartphones and streaming TV apps. The monetization thesis leans on in-app purchases, cross-platform access, and streamer-led campaigns — a playbook already visible in Netflix's connected-TV gaming push.

Why CFIUS matters

Approval from the Committee on Foreign Investment in the United States is required. Lawmakers have previously pressed for closer review of Saudi sovereign investments in American sports assets.

Aaron Bartnick, a former Biden-administration CFIUS official now at Columbia University, framed the stakes plainly: "People don't often think about video games and national security together, but these are platforms that reach millions of Americans and often collect a lot of personal data." Bartnick suggested the committee would "want to take a close look even if they ultimately end up signing off."

PIF's existing stake in Affinity Partners adds a structural tie between the buyer group and a figure closely connected to the U.S. presidency — a variable that shapes political risk in CFIUS negotiations.

The cost of walking away

Either side can trigger a $1 billion termination fee. EA owes one if its board backs a superior offer or shareholders reject the deal; the consortium owes one if regulatory clearance fails. Earlier analyst speculation that Disney or another major media group might bid for EA now narrows against a signed go-private agreement.

Watch next: the shareholder vote calendar, CFIUS review milestones under the Trump administration, and any post-close commentary from PIF on free-to-play conversion, mobile distribution, or studio M&A.