Electronic Arts, the gaming giant behind FIFA / EA Sports FC, The Sims and Battlefield, is set to leave the public markets under a record-setting leveraged buyout valued at $55 billion.
The deal, announced on Monday, will see EA delisted from the Nasdaq and become a privately held company under a consortium led by Silver Lake, Saudi Arabia’s Public Investment Fund (PIF), and Jared Kushner’s Affinity Partners.
Under the terms of the agreement, EA shareholders will receive $210 per share in cash, a premium of roughly 25% over the company’s recent trading price. The consortium will fund the acquisition via a mix of equity (around $36 billion) and debt financing of $20 billion, led by JPMorgan. PIF, which already owns a 9.9% stake in EA, is rolling over its holding into the new structure.
If completed, the deal would eclipse previous records, becoming the largest leveraged buyout ever, as well as one of the largest all-cash transactions in the tech/gaming space.
The deal is contingent on regulatory and shareholder approvals, particularly given the involvement of foreign capital via Saudi Arabia’s sovereign wealth fund. Critics may cite national security and control issues given the strategic importance of gaming and tech.
The heavy debt load (approximately $20 billion) poses financial risk. The success of the deal will depend on EA’s ability to maintain or grow revenues, manage operating cash flow, and service debt obligations.
Some analysts already argue that the $210 per share offer may “undervalue EA’s growth potential,” especially in light of upcoming releases like Battlefield 6.
This deal signals the growing appeal of gaming companies to private capital and sovereign funds. PIF has been active in the games sector, investing in companies like Nintendo and mobile gaming publishers.
For the public markets, EA’s departure reduces the number of major independent game publishers trading, with competitors like Take-Two likely facing increased attention.
The transaction also underscores the momentum for mega deals in tech late in 2025, as capital becomes more available and acquirers make bold strategic bets.
The deal is expected to close in fiscal Q1 2027, pending customary closing conditions such as regulatory approval and shareholder vote. Meanwhile, EA shares traded higher following the announcement.
In sum, the EA take-private move is a defining moment for the gaming industry: a high-stakes wager on creative IP, AI efficiency, and the promise of unshackled long-term investment against the pressures of public markets.
