Control over Electronic Arts has been transferred to a consortium including the Public Investment Fund of Saudi Arabia (PIF), Silver Lake, and Affinity Partners. The $55 billion deal has officially closed.
EA CEO and Chairman Andrew Wilson stated that the company is beginning a new chapter in its history, in a strong position and with partners who share its long-term vision for development.
This moment is a recognition of the outstanding people whose talent, ambition, and passion have made EA one of the leading companies in interactive entertainment. We are ready to boldly invest, accelerate innovation, and create the next generation of games and experiences for hundreds of millions of players worldwide.
The $55 billion deal makes it the largest leveraged buyout in history. This form of acquisition involves using a significant amount of borrowed funds to finance the purchase. It is reported that as a result of the deal, approximately $20 billion in debt will be added to Electronic Arts' balance sheet.
Turki Alnowaiser, Deputy Governor and Head of International Investments at PIF, emphasized that the fund has been a minority investor in EA for over five years, giving it a strong understanding of the company's business.