Video game giant Electronic Arts has confirmed it is going private in a $55 billion deal.
Confirming earlier reports, the deal — which ranks as the biggest ever leveraged buyout — involves a group of investors including private-equity firms Silver Lake, Saudi Arabia’s Public Investment Fund and Jared Kushner’s Affinity Partners.
“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said Andrew Wilson, Chairman & CEO of Electronic Arts. “Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energized than ever about the future we are building.”
Under the deal, EA shareholders will receive $210 per share in cash, representing a premium of 25% as of the company’s closing share price on September 25 before reports of a deal emerged.
Added Kushner: “Electronic Arts ​is ​an ​extraordinary ​company with a ​world-class ​management ​team and a bold vision ​for ​the ​future. ​I’ve admired their ​ability to create iconic, lasting experiences, ​and ​as ​someone ​who ​grew up playing their ​games ​- and now enjoys them with his ​kids – I couldn’t be ​more ​excited about ​what’s ​ahead.”
EA’s current biggest priority is the upcoming wide release of “Battlefield 6” on Oct. 10, but its catalog of game franchises also includes “Skate” (with its latest game having entered early access this month), “EA Sports FC” (rebranded from “FIFA”), “Apex Legends,” “The Sims,” “EA Sports,” “Madden NFL,” “EA Sports College Football,” “Need for Speed,” “Dragon Age,” “Titanfall,” “Plants vs. Zombies” and “EA Sports F1,” among others.