Electronic Arts has officially gone private after nearly 36 years on the public markets, completing a $55 billion buyout first announced on September 29, 2025. The deal was approved by EA stockholders at a special meeting on December 22, 2025, and EA recently confirmed it had obtained all necessary regulatory approvals to close the transaction. EA's common stock has ceased trading and been delisted from Nasdaq, with stockholders receiving $210 in cash for each share they owned.
The acquisition was led by a consortium including Saudi Arabia's Public Investment Fund (PIF), which will control 93.4% of the company, along with Silver Lake and Jared Kushner's Affinity Partners. Executives from all four organizations issued statements marking the occasion. EA Chairman and CEO Andrew Wilson said the company is entering its next chapter "from a position of strength" and pledged to "invest boldly, accelerate innovation, and build the next generation of games and experiences." PIF's Turqi Alnowaiser noted the fund's five years as a minority investor in EA and said entertainment and sports are key areas of strategic focus for PIF. Silver Lake's Egon Durban highlighted plans to invest in EA's growth, including the use of AI in game development, while Affinity Partners' Jared Kushner said the firm was excited to support EA's continued expansion.
With decision-making now controlled by the consortium rather than public shareholders, questions have emerged about the company's future direction. EA has stated there would not be layoffs immediately following the deal's close.
However, reporting indicates EA has taken on $18 billion in debt as part of the buyout, requiring roughly $1.8 billion a year in interest payments against an annual EBITDA of about $1.5 billion. EA has reportedly told debt investors it plans to cut $700 million in annual costs, including $170 million described as "organizational efficiencies." Bloomberg's Jason Schreier has suggested this points toward mass layoffs, and analysis from Wccftech suggests cuts are likely to hit hardest outside of EA's sports franchises, with single-player and narrative-driven studios such as BioWare and Motive seen as most at risk. IP sales and studio divestitures are also described as possibilities as the company looks to reduce costs.
BioWare, maker of Mass Effect, has already undergone layoffs earlier in 2025 that reduced its Edmonton office to fewer than 100 employees, with some staff moved to other EA studios. The studio's recent titles, including Mass Effect Andromeda, Anthem, and Dragon Age: The Veilguard, underperformed commercially. Fans have hoped for a new Mass Effect project rumored to involve a Krogan civil war, and it is noted that Amazon Prime Video is developing a Mass Effect television adaptation, which could complicate any decision to cancel the game. Sources differ on how imminent layoffs might be: EA has publicly promised none in the short term, while industry reporting frames the debt structure as making significant cuts likely.