Electronic Arts (EA) finalized a $55 billion all-cash leveraged buyout to become a private company on August 7, 2026, ending its public listing on NASDAQ and ceasing stock trading [1, 2]. The deal was led by Saudi Arabia’s Public Investment Fund (PIF), alongside investment firms Affinity Partners and Silver Lake [3, 4, 1].
The buyout involved roughly $20 billion in debt financing, making it the largest leveraged buyout in history, surpassing the previous $45 billion record held by TXU Energy in 2007 [3, 1, 5]. After closing, the PIF owns approximately 93.4% of EA [4, 1]. Shareholders received $210 per share in cash as part of the transaction [1, 2].
EA CEO Andrew Wilson will continue to lead the company post-privatization. He expressed optimism about the company’s future, saying, "As we begin this next chapter, I’m more optimistic than ever about what we’ll create together" [4]. Turqi Alnowaiser, PIF Vice President, noted entertainment and sports as strategic growth areas for PIF [6]. Jared Kushner, CEO of Affinity Partners, highlighted EA’s wide-reaching impact, stating, "EA's stories, characters and communities have become part of everyday life for hundreds of millions of people" [5]. Silver Lake CEO Egon Durban added the consortium plans to invest boldly in EA’s growth, including applying AI technologies to enhance game development and player experiences [2].
Industry observers noted the large debt load could constrain future creative decisions and place pressure on generating strong cash flow [1, 2]. Some voiced concern that privatization may shift EA’s focus toward maximizing profits from established franchises and microtransactions, potentially reducing innovation and causing dissatisfaction among players [3, 1]. Critics and human rights groups also raised security and ethical concerns about foreign sovereign investments in gaming and data usage [2].
The transaction follows other major gaming sector mergers, including Microsoft’s $68.7 billion acquisition of Activision Blizzard [4]. Polygon published an in-depth report on EA’s privatization and studio operations on August 4, 2026 [3].
