Electronic Arts has completed its $55 billion leveraged buyout, with Saudi Arabia’s Public Investment Fund (PIF) now the majority owner.
As EA becomes a private company, stockholders will receive $210 per share in cash, and the developer will be delisted from NASDAQ.
CEO Andrew Wilson has appointed Cam Weber as chief studios officer and David Tinson as COO. Both were also named company presidents.
“Leading this next phase requires bold creativity and exceptional execution,” Wilson wrote in a memo to employees. “We have a deeply experienced leadership team across the company, and as our opportunities continue to expand, I’m excited to partner with Cam and David.”
“[They] have helped lead EA through some of our most transformative moments. Together, they bring experience, humility, and deep commitment to our teams and players. They know what makes EA special, and together we’ll continue building the world’s greatest games, communities, and creative culture.”
Wilson concluded: “As we begin this next chapter, I’m more optimistic than ever about what we’ll create together. The opportunities ahead are extraordinary, and they’ll be brought to life by our creativity, our ambition, and our belief in what’s possible.”
The acquisition was announced on September 29 and led by a consortium of investors, including Saudi Arabia’s PIF, Silver Lake, and Affinity Partners.
EA stockholders approved the acquisition in December, and all regulatory approvals were granted last week (July 31).
“Having been a minority investor in the company for more than five years, we have a deep understanding of EA’s unique platform, massive global sports and gaming franchises, and iconic IP,” said Saudi Arabia’s PIF deputy governor and head of international investments Turqi Alnowaiser.
“Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest-growing and evolving sectors around the world. Together, the Consortium is uniquely positioned to be a long-term partner to EA’s management team in driving sustained growth and innovation for EA and the industry.”
The PIF bought over $3 billion in EA stock in 2021 and increased its stake in EA by 55% in 2023.
“As long-term investors in technology, we admire how EA’s innovation fuels imagination and human connection,” said Silver Lake CEO and managing partner Egon Durban.
“We’re proud to join with PIF and Affinity Partners to invest heavily in EA’s growth, including what AI can do to enhance game development and player experience, and excited to partner with Andrew and the EA team as they raise the bar for fans everywhere.”
Affinity Partners CEO Jared Kushner added: “We’re excited to support the company as it continues to reach new audiences, inspire the next generation of creators, and expand the ways people around the world connect through play.”