Video game giant Electronic Arts (EA), the studio behind titles like Madden NFL, Battlefield and The Sims, is set to be acquired for $52.5 billion in what would be the largest-ever private equity buyout.

The deal is being led by Silver Lake Partners, Saudi Arabia’s Public Investment Fund (PIF), and Affinity Partners, the investment firm headed by Jared Kushner, Donald Trump’s son-in-law. Shareholders will receive $210 per share. Including debt, the transaction is valued at about $55 billion—well above the previous record set by the $32 billion takeover of Texas utility TXU in 2007.

PIF, already EA’s biggest insider shareholder with a 9.9% stake, will roll its investment into the deal. Analysts note the move aligns with PIF’s strategy to expand its gaming arm, Savvy Gaming Group, which has already bought companies such as ESL, FACEIT and Scopely.

If approved, the deal will end EA’s 36 years as a publicly traded company. Founded in 1982 by former Apple employee William “Trip” Hawkins, EA went public in 1989 with its stock debuting at a split-adjusted 52 cents.

EA CEO Andrew Wilson, who has led the company since 2013, will stay in his role. Headquarters will remain in Redwood City, California.

The buyout comes as global competition in gaming intensifies. Microsoft acquired rival Activision Blizzard for nearly $69 billion in 2023, while mobile game makers such as Epic Games continue to challenge traditional publishers.

For now, the deal cements EA as the centrepiece of Saudi Arabia’s biggest gaming bet yet—and the largest private equity buyout in history.

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