Electronic Arts, one of the biggest publishers in gaming, is set to leave the stock market after agreeing to a $55 billion acquisition that will make it a privately held company. The buyers include Saudi Arabia’s Public Investment Fund (PIF), private equity firm Silver Lake, and Affinity Partners.
The deal is described as the largest leveraged buyout on record and brings an end to EA’s 35-year run as a publicly traded company. Under the agreement, Andrew Wilson will remain CEO, and the company’s headquarters in Redwood City, California, will stay in place. EA said it expects the transaction to close in the first quarter of 2027, pending regulatory approval.
While EA remains home to some of the most recognizable franchises in gaming, including FIFA, Madden, and The Sims, it has been navigating turbulence in recent years. In 2024, the publisher cut more than 650 jobs as part of a restructuring effort. This year, it shut down the studio working on a planned Black Panther game, canceled that project, and reportedly put the Need for Speed franchise on hold. These moves reflect wider industry pressures, as development costs continue to climb and competition from free-to-play and live-service titles grows sharper.
The acquisition also signals a shift in how outside capital is flowing into gaming. PIF has been investing heavily in the sector, previously taking significant stakes in companies like Nintendo, Activision Blizzard, and Capcom. Silver Lake, meanwhile, is extending its presence in tech and entertainment, having been involved in the pending deal to spin off TikTok’s U.S. operations.
For EA, going private may give it more room to reorient its strategy away from the short-term expectations of public shareholders. But it also raises questions about creative risk-taking, long-term investment in franchises, and how ownership by global funds may shape decision-making. The promise from investors to “expand EA’s reach worldwide” hints at a focus on growth, but fans and developers alike will be watching closely to see what that means in practice.
