Electronic Arts (EA), the gaming titan behind global hits like Madden NFL, Battlefield, and The Sims, is set to be acquired in a landmark $55 billion deal that could reshape the video game industry. The agreement, announced on September 29, 2025, will see EA taken private by a consortium comprising Saudi Arabia’s Public Investment Fund (PIF), private equity firm Silver Lake Partners, and Affinity Partners—run by Jared Kushner, the son-in-law of former U.S. President Donald Trump. The buyout, the largest ever funded by private equity, places EA at the center of a new era in gaming, raising questions and hopes about the future of the iconic company and the industry at large, according to reporting from the Associated Press, CNBC, and Fox Business.
Under the terms of the deal, EA shareholders will receive $210 per share in cash. The company’s stock responded quickly to the news, jumping 4.5% on the day of the announcement, after already gaining 15% the previous Friday when The Wall Street Journal first reported the imminent deal. The acquisition, which still requires shareholder and regulatory approval, is expected to close by the first quarter of fiscal year 2027. Once finalized, EA’s shares will be delisted from public markets, marking a dramatic shift for a company that has been publicly traded since the 1980s.
The $55 billion price tag eclipses previous leveraged buyout records, including the $32 billion deal for Texas utility TXU in 2007. The transaction will be financed with a $36 billion equity investment from the buyer group and $20 billion in debt, provided by JPMorgan, according to CNBC. The deal talks began in spring 2025 and include a 45-day window for other proposals, though insiders suggest the current consortium’s offer is formidable.
PIF, already a 9.9% stakeholder in EA, will become the majority investor in the new structure. The Saudi fund has been on what analysts at Raymond James called a "recent gaming spree," having previously invested in Nintendo and acquired stakes in major gaming platforms such as ESL, FACEIT, and Scopely. This latest move, however, is by far "the biggest such move to date by some distance," as noted by CNBC.
Jared Kushner, CEO of Affinity Partners, praised EA’s track record and vision in a statement: "I've admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games—and now enjoys them with his kids—I couldn't be more excited about what's ahead." Silver Lake, co-led by Egon Durban and Greg Mondre, rounds out the group, bringing deep experience in technology and entertainment investments.
Andrew Wilson, EA’s CEO since 2013, will remain at the helm following the acquisition. In a note to employees, Wilson expressed enthusiasm about the company’s future: "Our new partners bring deep experience across sports, gaming, and entertainment. They are committed with conviction to EA—they believe in our people, our leadership, and the long-term vision we are now building together." Wilson also highlighted EA’s strong start to fiscal year 2026, with net revenue for the first quarter (ending June 30, 2025) reaching $1.671 billion. He added, "We delivered a strong start to FY26, outperforming expectations ahead of what will be the most exciting launch slate in EA’s history. From deepening player engagement in EA SPORTS to gearing up for Battlefield 6 and skate., we’re scaling our global communities and continuing to shape the future of interactive entertainment."
Industry experts are divided on what going private might mean for EA’s creative direction and business strategies. Joost van Dreunen, a games industry researcher and adjunct assistant professor at New York University’s Stern School of Business, told the Associated Press that private ownership could offer EA "a little bit more breathing room to do what they do," free from the relentless scrutiny of public shareholders. Ben Schneider, a professor at Worcester Polytechnic Institute, echoed that sentiment, suggesting that "theoretically, that could result in more or better games." Still, he cautioned, "gamers are generally not enthralled with corporate owners influencing how game makers make their games, to say the least."
EA has faced criticism in recent years for aggressive monetization strategies, particularly its embrace of live-service gaming—a model that encourages ongoing player spending through frequent content updates. Some in the industry hope that the influx of private capital might allow EA "to take this foot off the gas from aggressive microtransaction strategies," as van Dreunen put it, but the new owners have not announced any plans to change course.
The timing of the acquisition has also raised eyebrows among analysts, especially with the highly anticipated launch of Battlefield 6 set for October 10, 2025. TD Cowen analysts Doug Creutz and Mei Lun Quach wrote, "It is still unclear to us why EA would agree to be acquired right before a very promising BF6 launch," pointing to positive player feedback during testing and the potential for a share price boost. Others have argued that the $210 per share offer undervalues EA, given its strong portfolio and upcoming releases, though Nick McKay of Freedom Capital Markets believes the price fairly reflects the company’s prospects.
Layoffs and studio closures remain a concern in the wake of the deal. EA has already reduced its workforce by about 5% in 2024, ending March with 14,500 employees, and announced further layoffs in May. The $20 billion in debt financing adds another layer of uncertainty, as cost-cutting often follows leveraged buyouts. Schneider warned, "Any direct impact will come in the form of what budgets are given to those studios and, downstream, which projects get cancelled or greenlit." EA has shuttered several studios in recent years, including the closure of Cliffhanger Games and the cancellation of a Black Panther game in May.
Saudi Arabia’s growing presence in gaming is not without controversy. PIF’s investments align with the kingdom’s broader push into sports, gaming, and esports, catering to a young population—63% of Saudis are under 30, according to the 2022 census. Amanda Cote, a professor at Michigan State University, noted that EA’s strong esports and sports portfolio fits Saudi ambitions, but added, "human rights organizations, such as Amnesty International, have been highly critical of Saudi Arabia’s overall investments in sports and esports—with some accusing the nation of 'sportswashing' to distract international attention. This proposed deal is likely to face similar criticism."
Regulatory scrutiny is expected, particularly from global consumer watchdogs. Baird Equity Research analysts noted that "connections to both the Saudi government and the Trump administration may be a strategic asset for EA in navigating any regulatory speed-bumps." In the U.S., regulatory pushback is considered less likely, but the outcome remains uncertain as the deal moves forward.
For the gaming world, EA’s historic buyout signals both consolidation and transformation. As the dust settles, players, developers, and investors alike are watching closely to see how one of the industry’s most influential companies will evolve under private ownership and unprecedented global investment.
