EA is now a private company
Electronic Arts has officially transitioned to a private company following a $55 billion leveraged buyout led by Saudi Arabia’s Public Investment Fund. The deal is expected to shift the company's strategy toward safer, bankable franchises to manage the significant debt incurred.
Why it matters
Marks a major consolidation in the gaming industry and highlights the influence of sovereign wealth funds on creative media companies.
Electronic Arts has officially become a private company. Last September, EA announced that an investor group led by Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Affinity Partners would be taking the company private in a $55 billion deal, and on Tuesday, EA said the deal successfully closed. The PIF will reportedly own 93.4 percent of the new company.
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