Saudi PIF completes $55bn Electronic Arts takeover in gaming push
A consortium led by Saudi Arabia's Public Investment Fund has completed its $55 billion acquisition of Electronic Arts, marking the kingdom's biggest push yet into the global gaming industry as it accelerates efforts to diversify its economy beyond oil. California-based EA, best known for franchises including Battlefield , The Sims and EA Sports FC , said in a regulatory filing that it had…
Saudi Arabia's Public Investment Fund (PIF) has finalized its $55 billion acquisition of California-based video game giant Electronic Arts (EA). This marks the kingdom's largest foray into the global gaming industry as it seeks to diversify its economy beyond oil. The consortium, led by the PIF and including private equity firm Affinity Partners, which was founded by Jared Kushner, also US President Donald Trump's son-in-law, successfully secured the necessary approvals.
Electronic Arts, renowned for franchises such as Battlefield, The Sims, and EA Sports FC, will subsequently be delisted from the stock market and taken private. The deal, initially announced in September 2025, is reportedly the largest leveraged buyout in history. Completion of the merger remains dependent on the fulfillment or waiver of remaining customary closing conditions outlined in the merger agreement.
The PIF and EA have yet to release statements regarding the acquisition. The gaming and esports sector is a crucial component of Saudi Arabia's Vision 2030, the country's strategy for economic diversification away from oil. The Saudi Arabian national gaming and esports strategy aims to establish the nation as a global hub for the sector.
Recently, Saudi Arabia hosted the Esports World Cup in Riyadh and is set to host the inaugural edition of the Olympic Esports Games in 2027. The PIF has been actively expanding its portfolio across various sectors, currently managing assets worth over $900 billion and overseeing more than 220 portfolio companies. In early 2022, the PIF established Savvy Gaming Group, chaired by Crown Prince Mohammed bin Salman, with the objective of becoming the leading games and esports group both domestically and internationally.
The sovereign wealth fund plans to further develop a comprehensive ecosystem for the sector. Gaming and esports are among the "strategic sectors" that the PIF is prioritizing, alongside artificial intelligence and renewable energy, as it aims to continue its momentum from the sixfold increase in assets under management. Yasir Al Rumayyan, governor of the PIF, stated in April that the fund will persist in supporting Saudi Vision 2030 objectives by establishing competitive domestic ecosystems, investing in national champions with global scaling potential, and forging global economic partnerships.
Written by urgent.news from The National UAE's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
