Electronic Arts confirmed that it will go private in a $55 billion deal that involves an investor group including President Trump’s son-in-law Jared Kushner and Saudi Arabia’s sovereign wealth fund.
It’s an all-cash deal that is the biggest leveraged buyout in history. News leaked out on Friday that the deal would be at least $50 billion, but the actual price turned out to be $55 billion, or $210 a share in cash. That was 25% more than the stock price before the news of the deal leaked to the Wall Street Journal.
The move is sure to shake up the games industry, as such a transaction hasn’t happened since Microsoft bought Activision Blizzard for $68.5 billion in 2023. This deal requires government approval and is expected to close in the first quarter of 2027. Andrew Wilson is expected to continue to be CEO of EA.
The Saudi Arabia Public Investment Fund, which owns 10% of EA already, led the deal. The Saudis have set aside $37 billion in invest in games and have already built a gaming financial empire through Savvy Games Group. The Saudis have turend to games and esports to diversify away from a dependence on oil. Other investors include Silver Lake and Affinity Partners.
The price includes an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.
Under the terms of the agreement, the investor consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the company. EA stockholders will receive $210 per share in cash. The per share purchase price represents a 25% premium to EA’s unaffected share price of $168.32 at market close on September 25, 2025, the last fully unaffected trading day, and a premium to EA’s unaffected all-time high of $179.01 at market close on August 14, 2025.
PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolios with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement, and create new growth opportunities. The transaction represents the largest all-cash sponsor take-private investment in history, with the consortium partnering closely with EA to enable the Company to move faster and unlock new opportunities on a global stage.
“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. This moment is a powerful recognition of their remarkable work,” said Wilson, in a statement. “Looking ahead, we 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. I am more energized than ever about the future we are building.”
EA has its Battlefield 6 title coming — the first such game in four years — on October 10, and it is also known for its annual sports titles in franchises like Madden NFL, FIFA, and NBA Live. It also has titles like The Sims, Need for Speed and Skate.
In a statement, Turqi Alnowaiser, deputy governor and head of international investments at the PIF, said in a statement that the fund is “uniquely positioned in the global gaming and esports sectors, buying and supporting ecosystems that connect fans, developers and IP creators.”
Saudi Arabia’s PIF is the owner of the Esports World Cup, which gave out $70 million in prizes in its second year this summer. It is also launching the Esports Nations Cup modeled after the national competitions in the Olympics starting in November. Those holdings area good match for the investment in EA, which runs the EA Sports games like Madden NFL Football and EA Sports FC.
Goldman Sachs & Co. LLC is serving as EA’s financial advisor and Wachtell, Lipton, Rosen & Katz is serving as EA’s legal advisor.
Kirkland & Ellis LLP is serving as legal counsel to the consortium. Kirkland & Ellis LLP is serving as lead legal counsel for PIF with specialized counsel from Gibson, Dunn & Crutcher LLP. Latham & Watkins LLP and Simpson Thacher & Bartlett LLP are serving as Silver Lake’s legal counsel. Sidley Austin LLP is serving as Affinity Partners’ legal counsel.
J.P. Morgan Securities LLC is serving as financial advisor to the consortium. In a message to GamesBeat, Michael Pachter, a longtime analyst at Wedbush, said he thinks it’s a good price and the deal will likely go through.
Electronic Arts CEO Andrew Wilson issued this statement to EA employees today:
Moments ago, we announced that the Board approved an agreement for EA to be acquired by PIF, Silver Lake, and Affinity Partners. You can read the press release here.
Under the terms of the transaction, EA stockholders will receive $210 per share in cash, valuing EA at $55 billion. After careful evaluation, our Board concluded that this transaction is in the best interests of our company and our stockholders.
This moment is a recognition of your creativity, your innovation, and your passion. You have built some of the world’s most iconic IP, created stories that have inspired global communities, and helped shape culture through interactive experiences. Everything we have achieved – and everything that lies ahead – is because of you.
We are entering a new era of opportunity. This is one of the largest and most significant investments ever made in the entertainment industry. Our new partners bring deep experience across sports, gaming, and entertainment. They are committed with conviction to EA – they believe in our people, our leadership, and the long-term vision we are now building together.
Our mission at EA to — Inspire The World To Play — continues to guide everything we do. Our values and our commitment to players and fans around the world remain unchanged. With continued rigor and operational excellence, we can amplify the creativity of our teams, accelerate innovation, and pursue transformative opportunities that position EA to lead the future of entertainment. Together, we’ll create experiences that are bold, expressive, and deeply connected to inspire generations of players around the world.
I am excited to continue as CEO, working alongside our leadership team to advance our strategy. United by our vision, we will deliver experiences that transcend platforms and empower players everywhere to create worlds, characters, and stories that are bold, interactive, and deeply connected.
Thank you for your creativity, your commitment, and the passion you bring to EA every day. This is a historic moment, and with the support of our new partners, the future we are building together is brighter than ever.
Andrew