It’s official: EA agrees $55bn buyout deal

Games publishing giant EA will be acquired for $55 billion by an investor consortium that comprises of Saudi Arabia’s Public Investment Fund, Silver Lake, and Affinity Partners in an all-cash deal.

The consortium will purchase 100% of EA, with PIF rolling over its existing 9.9% stake.

EA shareholders will receive $210 per share in chas, which is said to represent a 25% premium to EA’s “unaffected” share price of $168.32 at market close on September 25th, 2025.

The acquisition will be made up of a quity investment of approximately $36 billion and $20 billion of debt financing - $18bn of which ies expected to be funded at close.

Andrew Wilson is expected to remain as CEO and the company will continue to be headquartered in Redwood City, California.

EA said the deal marked the "largest all-cash sponsor take-private investment in history".

The acquisition is expected to close in Q1 of the 2027 financial year, subject to regulatory approval. The company will be taken off the public markets.

EA's press release makes no mention of Saudi Arabia's Savvy Games Group, which owns Saudi-bought shares and has previously led games industry deals.

"Powerful recognition"

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said EA CEO and chairman Andrew Wilson

“Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”

PIF deputy governor and head of international investments Turqi Alnowaiser commented: “PIF is uniquely positioned in the global gaming and esports sectors, building and supporting ecosystems that connect fans, developers, and IP creators.

“PIF has demonstrated a strong commitment to these sectors, and this partnership will help further drive EA’s long-term growth, while fueling innovation within the industry on a global scale.”

Silver Lake co-CEO and managing partner Egon Durban added: “This investment embodies Silver Lake’s mission to partner with exceptional management teams at the highest quality companies.

"EA is a special company: a global leader in interactive entertainment, anchored by its premier sports franchise, with accelerating revenue growth and strong and scaling free cash flow. We are honored to invest and partner with Andrew – an extraordinary CEO who has doubled revenue, nearly tripled EBITDA, and driven a fivefold increase in market cap during his tenure.

“The future for EA is bright, we are going to invest heavily to grow the business and we are excited to support Andrew and the EA team as the company accelerates innovation, expands its reach worldwide, and continues to deliver incredible experiences to players and fans across generations.”

Industry giant

EA is known for top games franchises such as EA Sports FC, The Sims, Battlefield, Dragon Age and Apex Legends.

One of the buyers, Saudi Arabia’s PIF, has previously made significant investments in games.

Under the Savvy Games Group banner, the company has acquired mobile game developers Scopely and Niantic in multi-billion dollar deals. Savvy also owns shares in Nintendo, Capcom, and previously had a stake EA before PIF's acquisition.

Silver Lake has previous experience in games, investing $1 billion into game engine maker Unity, along with Sequoia Capital, in 2022.

Industry reaction

Ahead of the deal, industry analysts were already predicting what an acquisition could mean for EA and the wider sector. 

Spilt Milk Studios co-owner and industry analyst Nicholas Lovell said the deal could see EA invest in big, predictable games, rather than in future titles.

“So it is basically a bet that the games industry is mature and predictable, that EA has found stable cash flows for the next decade without reinvestment and that no one else emerges to eat EA's lunch,” Lovell said.

Gossamer Consulting Group principal Eric Kress suggested, based on reports, that the deal seems Saudi-driven, with Silver Lake "acting as the face".

“On their own, Silver Lake wouldn’t take on this kind of risk and the Saudis would have a tough time with regulatory scrutiny without a partner,” he wrote.

Restructure and refocus

EA has laid off a number of staff over the past couple of years as it deals with industry headwinds and refocused its portfolio on its owned-IP. Earlier this year 100 staff were reportedly cut at Apex Legends developer Respawn, with a further 200 to 300 more employees made redundant across the company.

Last year the publisher said it would lay off 5% of its staff and close offices as part of a restructuring plan that would cost $125m to $165m.

The publisher said it was refocusing on “strategic priorities and growth initiatives”. As part of that, it would be shutting down games and moving away from the development of future licensed IP that “we do not believe will be successful in our changing industry”.

EA has shut down a number of mobile games in its portfolio during the same time period, including EA Sports FC Empires, MLB Tap Sports Baseball, F1 Mobile Racing, EA Sports UFC Mobile 2, Kim Kardashian Hollywood, and The Lord of the Rings: Heroes of Middle-Earth.

In October last year the publisher also announced a “major overhaul” of Plants. Vs Zombies 3 as it shut down the game’s servers.

Last year, EA’s mobile division was restructured to combine it with the HD franchise team under singular leadership across EA Sports FC, Madden NFL and The Sims.

To date, its most successful mobile game has been Star Wars: Galaxy of Heroes, which has generated an estimated $1.5 billion. Other top mobile titles in its portfolio include Golf Clash, EA Sports FC, Mobile, SimCity BuildIt and The Sims FreePlay.