Notice: Electronic Arts Completes $55 Billion Take-Private in Largest Leveraged Buyout in History

Electronic Arts (EA), the American video game publisher behind EA FC, The Sims and Mass Effect, completed its sale for $55 billion (£41 billion) to a consortium led by Saudi Arabia's Public Investment Fund (PIF) on 5 August 2026, according to a BBC News report. The transaction is believed to be the largest leveraged buyout in history and the second-biggest acquisition in gaming, after Microsoft's $69 billion purchase of Activision Blizzard.

Deal structure

The investor group includes PIF, which has committed $36 billion to the deal, and Affinity Partners, led by Jared Kushner, son-in-law of US President Donald Trump. PIF additionally needs to borrow $20 billion from investment bank JPMorgan to close the transaction, with EA itself taking on the debt. All public shares will be purchased and EA will no longer be traded on a stock exchange.

• Total transaction value: $55 billion (£41 billion)
• PIF contribution: $36 billion equity plus $20 billion JPMorgan debt
• Co-investor: Affinity Partners (Jared Kushner)
• EA chief executive Andrew Wilson retains his position
• EA FC football titles have sold over 325 million copies since 1993
• EA generated revenue of $7.5 billion in the most recent financial year
• Battlefield 6 (October 2025) sold over 7 million copies in its first three days

Industry reaction

Bloomberg journalist Jason Schreier warned the debt burden could lead to "mass layoffs, more aggressive monetization, and other big cost-cutting measures" at one of the industry's largest companies. Christopher Dring, editor-in-chief of The Game Business, said private equity ownership was likely to mean "a very hands-on approach from the investment group," noting that "private equity firms are typically aggressive in their management of companies."

Shams Jorjani, chief executive of Arrowhead Game Studios, told the BBC: "This deal is consolidation, no question — and I wonder whether new ownership optimises for the safe bet — more sequels, more mega-franchises — over that breadth." He added that turning EA into "a sequel-and-mega-franchise machine" would be "a real waste of one of the best catalogues in the industry."

Geopolitical dimension

PIF is a £514 billion investment vehicle controlled by Saudi Arabia's Crown Prince Mohammed bin Salman. The fund already owns Premier League club Newcastle United and four Saudi Pro League football clubs. George Osborn, author of Power Play: Video Games, Politics and the Battle for Global Influence, said the deal's value to PIF was "not purely economic" but about "owning a soft power asset that is quietly entrenched in the sporting community." He noted: "Owning EA hands them a relationship with the 20,000 players, 750 clubs and 35 leagues at the top of the professional game."

The acquisition drew protests from advocacy group Players Alliance HQ and fan petitions, particularly over concerns that games championing inclusivity such as The Sims could face content restrictions under Saudi ownership. The Saudi government has denied accusations of sportswashing.

Company details

Electronic Arts Inc. (EA), headquartered in Redwood City, California. Official website: ea.com.