Electronic Arts has agreed to a $55bn leveraged buyout that will take the publisher of Madden NFL, Battlefield and EA Sports FC private, with Silver Lake, Saudi Arabia's Public Investment Fund (PIF) and Jared Kushner's Affinity Partners acquiring 100 percent of the company.

Shareholders will receive $210 per share in cash — a 25 percent premium over the unaffected closing price of $168.32 on 25 September 2025, and above EA's all-time high of $179.01 reached on 14 August 2025. PIF will roll over its existing 9.9 percent stake. Roughly $36bn of the purchase price comes from consortium equity, with the remaining $20bn financed through debt raised primarily from JPMorgan Chase.

The deal is expected to close in the first quarter of EA's fiscal year 2027, pending regulatory and shareholder approval. If it completes, it will be the largest all-cash sponsor-led take-private in history, surpassing TXU's $45bn buyout from 2007, and the second-largest gaming acquisition ever after Microsoft's $69bn Activision Blizzard purchase in 2023. It also ends EA's 36-year tenure as a publicly traded company.

Who stays, who pays and who gets a seat?

Andrew Wilson, EA's long-serving chief executive, will remain in post. "Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world's most iconic IP, and created significant value for our business," Wilson said. "I am more energized than ever about the future we are building."

Silver Lake co-CEO Egon Durban framed the investment around Wilson's operational record: "We are honoured to invest and partner with Andrew — an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure."

PIF's participation comes through Turqi Alnowaiser, deputy governor and head of international investments: "PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators. This partnership will help further drive EA's long-term growth."

Kushner, chief executive of Affinity Partners, called EA "an extraordinary company with a world-class management team and a bold vision for the future." EA lead independent director Luis A. Ubiñas said the board concluded the deal "delivers compelling value for shareholders and is in the best interests of all stakeholders."

What does the deal change for EA's studios and staff?

The operational implications are significant. A $20bn debt load, largely from a single lender, will pressure EA's cash generation — and live-service titles such as EA Sports FC are the most reliable generators of recurring revenue to service it. Some analysts caution that PIF's involvement, given Saudi Arabia's human rights record, could lead to future content restrictions or studio restructuring; those assessments remain analyst estimates rather than confirmed outcomes.

The United Videogame Workers union has already pushed back. In an open letter, members criticised the deal, warning of potential layoffs and reduced creative freedom driven by the debt burden and new ownership. US senators have separately raised national security concerns over Saudi Arabia's involvement — a signal that regulatory review may not be a formality.

Wilson has told staff that EA's values will remain unchanged, pointing to the company's commitment to diversity and inclusion in franchises such as The Sims and Dragon Age, which feature LGBTQ+ representation.

The strategic picture

The buyout aligns with PIF's broader strategy of diversifying Saudi Arabia's economy through technology and entertainment investments. PIF already holds stakes in Nintendo, Take-Two Interactive and other gaming companies through its Savvy Games Group — meaning EA would become the largest asset in an expanding gaming portfolio with clear esports ambitions.

Market reaction has been positive on price: EA shares surged after the announcement, peaking near $203.50 in early October, though still short of the $210 offer — reflecting residual closing risk.

Watch the shareholder vote and regulatory review timeline as the transaction moves toward its expected close in Q1 of EA's fiscal 2027; any national-security scrutiny from US senators could extend that window.