Electronic Arts, the video game company behind some of the world’s most popular sports and entertainment franchises, has officially been acquired in a massive $55 billion deal.
The company announced Monday that its acquisition by a group consisting of Saudi Arabia’s Public Investment Fund, private equity firm Silver Lake and Affinity Partners has been completed.
The deal takes Electronic Arts off the Nasdaq stock exchange and turns the company into a privately owned business after decades as a publicly traded corporation. EA shareholders received $210 per share as part of the transaction.
Electronic Arts is the parent company of EA Sports, which produces several major sports video game franchises, including Madden NFL, EA Sports College Football, NHL, UFC and EA Sports FC, formerly known as FIFA.
The company also controls popular franchises including Battlefield, The Sims, Apex Legends, Need for Speed, Mass Effect and Dragon Age.
EA Chief Executive Officer Andrew Wilson will remain in his position and continue leading the company under its new ownership.
Company officials said the investment group will provide long-term financial support and industry experience as Electronic Arts focuses on expanding its major franchises, developing new technology and creating new entertainment experiences.
For players, no immediate changes have been announced for EA Sports games, online services, player accounts or previously scheduled releases.
However, the acquisition has raised questions throughout the gaming community about EA’s long-term direction. The transaction reportedly includes approximately $20 billion in debt financing, leading to concerns that the company could eventually pursue cost-cutting measures, layoffs, studio closures or a greater focus on its most profitable franchises.
Electronic Arts has not announced any new layoffs or game cancellations connected to the completion of the sale.
The Saudi Public Investment Fund is reportedly the largest investor in the ownership group. The fund has significantly expanded its presence in video games, professional sports and international entertainment in recent years.
The purchase is being described as the largest leveraged buyout ever completed and represents another major consolidation within the global video game industry.
For now, major EA Sports titles are expected to continue operating and releasing as planned while the company begins its next chapter under private ownership.
