The all cash transaction values EA at approximately $55 billion, with shareholders receiving $210 per share a 25% premium over the unaffected share price before the deal’s announcement in September 2025. This positions it as the largest leveraged buyout in history.
According to SEC filings:
- 201.46 million votes supported the merger agreement.
- 1.91 million votes opposed it.
- 90,311 abstained.
A separate advisory vote on executive compensation related to the deal passed with 178.31 million in favor and 24.91 million against.
Buyers and Ownership Structure
The acquiring consortium includes:
- Saudi Arabia’s Public Investment Fund (PIF), which will hold a majority stake (approximately 93.4-93.7%).
- Silver Lake (private equity firm).
- Affinity Partners (founded by Jared Kushner).
The PIF, linked to Crown Prince Mohammed bin Salman, has been expanding its gaming investments, including stakes in companies like Nintendo, Take Two Interactive, Capcom, and full ownership of SNK.EA CEO Andrew Wilson will remain in his role, with the company assuring full creative independence and unchanged values post-acquisition. Headquarters stay in Redwood City, California.
Background and Concerns
Announced in late September 2025, the deal aims to accelerate EA’s growth in franchises like EA SPORTS FC, Battlefield, Apex Legends, The Sims, Madden NFL, and others by freeing it from public market pressures.
However, the acquisition has drawn scrutiny:
- U.S. Senators raised national security concerns over potential access to customer data.
- The leveraged nature (including significant debt) could strain EA’s finances.
- Broader criticism focuses on Saudi Arabia’s human rights record and “sportswashing” efforts through investments in gaming and sports.
The PIF has reportedly faced funding pressures, reducing stakes in other investments like Nintendo.
Next Steps and Outlook
The deal now awaits regulatory approvals, including from U.S authorities, with closure targeted for Q1 of EA’s fiscal year 2027 (by June 2026). While shareholder approval was expected, government review remains the primary obstacle.
This transaction marks a major shift for the 43 year old publisher, potentially enabling long term strategies but introducing new risks tied to debt and ownership.
