The Buyers Behind EA's $55 Billion Acquisition

Electronic Arts has announced its acquisition by a consortium of investors, including Saudi Arabia's Public Investment Fund (PIF), private equity firm Silver Lake, and US investment firm Affinity Partners, for $55 billion. This deal has sparked interest due to the diverse backgrounds and interests of the companies involved. PIF, one of the world's largest sovereign wealth funds with assets estimated at $925 billion, is controlled by Saudi Arabia's Crown Prince Mohammed bin Salman. It has been expanding its presence in the gaming and esports sectors, despite controversy surrounding Saudi Arabia's human rights record, including the treatment of women and the legality of homosexuality. PIF's gaming and esports investment arm, Savvy Games Group, was established in 2021 and has acquired significant stakes in various gaming companies, including ESL FACEIT Group and an 8.1% share of Embracer Group, valued at $1 billion. In 2022, PIF acquired a 5% stake in Capcom and Nexon Gaming for $1 billion and later increased its stake in Nintendo to 8.26% before it dropped to 7.54% in 2024. PIF also owns a 6.19% stake in Take-Two Interactive as of June 2025 and had increased its shares in EA by 55% to 24.81 million in 2023. The acquisition will see the consortium purchasing 100% of EA, with PIF maintaining its existing stake. Silver Lake, ranked the 12th largest private equity firm globally, specializes in technological investments and has a portfolio that includes Airtable, Dell, Klarna, Noom, Stripe, and Unity Technologies. It also holds a majority stake in City Football Group, the parent company of Manchester City football club, and owns stakes in numerous football clubs worldwide. Silver Lake's investment in EA aligns with its interest in technological investments and the potential synergy with EA's successful sports franchises, such as EA FC, considering Silver Lake's connections to football clubs. Affinity Partners, an independent US investment firm led by Jared Kushner, the son-in-law of former US President Donald Trump, has been involved in controversy, including its dealings with foreign investors and governments. Kushner's close relationship with Crown Prince Mohammed bin Salman has raised concerns, especially given the context of the assassination of journalist Jamal Khashoggi. The acquisition is subject to customary closing conditions, including approval by EA's stockholders and required regulators, and is expected to close in the first quarter of FY27 if approved.