EA Completes Privatization, Saudi Sovereign Fund Holds 93.4% Stake
Claire Weston
Electronic Arts has completed a roughly $55 billion take-private deal led by Saudi Arabia's PIF, which now holds 93.4% of the new entity — the largest buyout in gaming history, with a debt load that will reshape EA's product bets.
How big is this deal?
The transaction totals roughly $55 billion, including $20 billion in debt financing — one of the largest leveraged buyouts on record.
The buyer consortium comprises Saudi Arabia's Public Investment Fund (PIF), Silver Lake, and Affinity Partners. Post-close, PIF holds approximately 93.4% of the new company.
This means → EA has gone from a US-listed public company to a private entity under near-total control of a sovereign wealth fund.
Why so much borrowed money?
The $20 billion debt represents nearly 40% of the total price — an unusually high leverage ratio for a tech deal.
In plain terms = the buyers put up less than 60 cents of their own cash per dollar of deal value; EA must now generate enough free cash flow every year to service that debt.
This reflects deep confidence in EA's flagship franchises as cash machines — but it also leaves very little room for missteps.
How will EA's product strategy shift?
Under heavy debt, EA will double down on its biggest revenue drivers: Battlefield, EA Sports FC, Madden NFL, and The Sims.
Analysts expect the space for smaller, experimental titles to shrink further — capital goes where returns are most predictable.
This means → players are likely to see more sequels and live-service updates from proven franchises, fewer brand-new IPs.
Where does this sit in the industry?
Recent mega-deals in gaming include Microsoft's $68.7 billion Activision Blizzard acquisition, its $7.5 billion ZeniMax Media purchase, and Take-Two's $12.7 billion Zynga buyout.
EA's deal surpasses all of them, making it the largest single take-private transaction in gaming history.
This reflects a deeper trend: top-tier game publishers are being consolidated by large-scale capital at an accelerating pace.
Content is for reference only, not financial advice.