Saudi's PIF-led consortium completes $55 bn acquisition of gaming giant EA

Electronic Arts is now privately owned after a Saudi-led consortium completed its $55 billion acquisition, adding EA to the Public Investment Fund's portfolio of gaming and technology investments

Electronic Arts (EA), the publisher behind EA Sports FC, Battlefield, Apex Legends and Need for Speed, has completed its $55 billion acquisition by a consortium led by Saudi Arabia's Public Investment Fund (PIF), alongside Silver Lake and Affinity Partners. The deal takes EA private and marks one of the biggest acquisitions in the history of the gaming industry.

 

The transaction, first announced in September 2025, received shareholder approval in December and has now formally closed. With the completion of the deal, EA's common stock has been delisted from the Nasdaq exchange, and shareholders will receive $210 in cash for each share they owned at closing, the company said.

 

The BBC reported that the acquisition is also considered the largest leveraged buyout on record, with a significant portion of the transaction financed through debt.

CEO to continue leading EA

Andrew Wilson will continue as EA's chief executive following the acquisition.

 

In a statement, Wilson said the company was entering its next phase with partners that share its long term vision, adding that the consortium would support investments in future games and experiences.

PIF's Deputy Governor and Head of International Investments, Turqi Alnowaiser, said the sovereign wealth fund had been a minority investor in EA for more than five years and viewed entertainment and sports as strategic investment areas.

What is PIF?

The Public Investment Fund (PIF) is Saudi Arabia's sovereign wealth fund. It invests across technology, gaming, sports, infrastructure and other industries as part of the country's economic diversification strategy.

Why did Saudi's PIF buy EA?

PIF said gaming and esports are strategic investment sectors. Additionally, the acquisition adds EA to a growing portfolio of gaming investments backed by Saudi Arabia's sovereign wealth fund.

 

Through its gaming arm Savvy Games Group, PIF completed the $4.9 billion acquisition of mobile game publisher Scopely in 2023. Scopely later expanded further by acquiring Niantic's games business, including Pokemon Go.

Beyond wholly owned businesses, PIF also holds investments in several publicly traded gaming companies. According to the BBC, the fund owns about 7.5 per cent of Nintendo, around 6 per cent of Take-Two Interactive, roughly 8 per cent of Embracer Group, and about 5 per cent of Capcom, while Saudi-linked entities collectively control more than 10 per cent of Capcom.

Beyond gaming

The EA acquisition is part of a broader technology investment strategy by PIF that extends beyond gaming and esports.

 

The sovereign wealth fund was an early investor in ride hailing platform Uber, investing $3.5 billion in 2016 and securing a board seat as part of the deal. It also committed up to $45 billion to SoftBank's Vision Fund, which backs technology companies across sectors including artificial intelligence, semiconductors and enterprise software.

 

PIF has also backed mixed reality company Magic Leap, investing $400 million in 2018, and remains the majority shareholder in electric vehicle maker Lucid Motors. Earlier this year, an affiliate of PIF committed an additional $550 million to Lucid as the company expanded its robotaxi partnership with Uber.