Electronic Arts, the publisher behind EA Sports FC, Battlefield, The Sims, Mass Effect and Dragon Age, has officially completed its $55 billion acquisition by a consortium made up of Saudi Arabia's Public Investment Fund (PIF), private equity firm Silver Lake, and Affinity Partners, the investment firm owned by Jared Kushner, son-in-law of President Donald Trump. The deal, first announced last September, closed after EA filed with the U.S. Securities and Exchange Commission confirming regulatory approval, including sign-off from the European Commission. EA is now delisted from the NASDAQ and has closed its investor relations page, meaning the company will no longer publicly share earnings calls or financial reports. Sources describe the transaction as the biggest leveraged buyout in private equity history, with roughly $20 billion of the total financed through debt.
Although framed as a three-party "Consortium," Saudi Arabia's PIF holds a dominant stake, reported at 93 to 94 percent, giving the kingdom effective control of the company. The PIF, run by Crown Prince Mohammed bin Salman and holding an estimated $900 billion in assets, has also invested in other gaming companies including SNK, Scopely, Nintendo and Take-Two. Affinity Partners, Kushner's firm, is itself largely financed by a $2 billion investment from the PIF, and Kushner currently serves as a U.S. diplomatic envoy to the Middle East. Reporting notes that Kushner and Affinity Partners are under investigation by the House Judiciary Committee over alleged conflicts of interest.
In a joint press release, EA CEO Andrew Wilson said the deal recognizes "the extraordinary people whose creativity, ambition and passion have made EA one of the world's leading interactive entertainment companies," adding the company would "invest boldly, accelerate innovation, and build the next generation of games." Silver Lake CEO Egon Durban highlighted plans to invest in AI to "enhance game development and player experience," while PIF's Turqi Alnowaiser called entertainment a "key area of strategic focus." Kushner said EA has created "stories, characters, and communities that have become part of everyday life for hundreds of millions of people." Wilson received $38 million in compensation last year, an $8 million increase, a detail multiple outlets noted came amid ongoing layoffs at the company, including cuts affecting developers behind Battlefield 6.
The deal has drawn concern from unionized EA workers, who warned through the United Videogame Workers CWA that any resulting job losses or studio closures would be "a choice, not a necessity, made to pad investors' pockets," and voiced worry for studios seen as "less profitable." Analysts have separately raised concerns about the potential closure of studios such as BioWare, and about credit rating agencies reevaluating EA's finances following the buyout. US senators have said the deal poses "foreign influence and national security risks."
LGBTQ+ players and employees have also expressed alarm given EA's ownership of The Sims, long known for inclusive representation, alongside Mass Effect and Dragon Age. One anonymous EA worker told Game File that Wilson's deal amounted to a dismissal of "all women and LGBTQ employees." A Sims developer speaking at Develop said they hadn't heard of any mandate to reduce diversity in the game and would "fight it tooth and nail" if one emerged. Human Rights Watch has accused the PIF of using entertainment investments to "whitewash" Saudi Arabia's human rights record, citing issues including treatment of women, LGBTQ+ criminalization, and press freedom, while noting the PIF has previously influenced content in other acquired properties, such as adding real-world figures tied to Saudi-funded events into SNK's Fatal Fury: City of the Wolves.
Reactions from within the industry are mixed on what the ownership change means creatively. Arrowhead Game Studios CEO Shams Jorjani, whose team made Helldivers 2, said the acquisition represents "consolidation, no question," and questioned whether new ownership will favor "safe bets" and "mega-franchises" over the creative range EA's catalog has historically included, from Battlefield and The Sims to smaller titles like Split Fiction and Unravel. He said he is "hopeful this leads to more of that range, not less," but warned turning EA into a "sequel-and-mega-franchise machine" would be "a real waste of one of the best catalogues in the industry." EA has stated in an FAQ that it will "maintain creative control" and preserve its "track record of creative freedom and player-first values" under the new owners, with Wilson saying the company's "values and commitment to players and fans around the world remain unchanged."