Electronic Arts, the gaming giant behind Madden NFL, The Sims, and Battlefield, is set to vanish from public markets in the largest leveraged buyout in history—a $55 billion deal led by Saudi Arabia's sovereign wealth fund that will close Monday, August 4, marking a seismic shift in the video game industry.

The deal, officially confirmed by EA on July 31, will see shareholders receive $210 per share as the company transfers to a consortium led by Saudi Arabia's Public Investment Fund (PIF), alongside private equity firm Silver Lake and Affinity Partners, the investment firm run by Jared Kushner, son-in-law of President Trump.

After the transaction closes following Monday's stock market close, EA will cease to exist as a publicly traded company and will be controlled by the three-way partnership—though PIF will not be the sole owner. The deal surpasses any previous leveraged buyout in tech or gaming, dwarfing the $44 billion Tesla buyout attempt and Microsoft's $69 billion Activision acquisition, which remained a public-to-private sale rather than an LBO.

The Mechanics of a Record-Breaking Deal

According to financial analysis, the deal is structured with approximately $36 billion in cash and equity from PIF, and $20 billion in debt financing arranged by JP Morgan—an unprecedented scale for a gaming or tech leveraged buyout. The debt load alone exceeds the total valuation of most game publishers.

The transaction represents the culmination of months of negotiations that began late last year when EA's board explored options amid pressure from activist investors and a stagnant stock price. At $210 per share, the offer represents a significant premium over EA's trading range earlier in 2026, though below its all-time highs from the pandemic gaming boom.

Saudi Arabia's Gaming Empire Expands

For Saudi Arabia's PIF, the EA acquisition is the crown jewel of Crown Prince Mohammed bin Salman's push to diversify the kingdom's economy beyond oil. The fund has been aggressively building a gaming portfolio over the past five years, with investments in Activision, Nintendo, and a controlling stake in SNK, the Japanese fighting game developer.

The kingdom's Savvy Games Group, a PIF subsidiary, has pledged $38 billion toward gaming investments as part of Saudi Vision 2030. EA's portfolio—which includes EA Sports FC (formerly FIFA), Apex Legends, Mass Effect, Dragon Age, Need for Speed, and F1—gives PIF instant control over some of the industry's most lucrative franchises.

What Changes for Players and Employees?

EA has emphasized continuity: the company will retain its Redwood City, California headquarters, and CEO Andrew Wilson will remain in his role. The post-deal statement offered no hint of immediate operational changes, layoffs, or strategic pivots.

But going private removes the quarterly earnings pressure that has defined EA's strategy for decades. The company will no longer need to justify live-service pivots, microtransaction models, or annual franchise releases to Wall Street analysts—a shift that could reshape how games like EA Sports FC 27 and the next Battlefield are developed and monetized.

Some industry observers worry that private ownership—especially with Saudi backing—may bring less transparency around labor practices, content moderation, and creative direction. Others see opportunity: freed from public market scrutiny, EA could take bigger risks on new IP or invest in longer development cycles.

A Bellwether for Gaming Consolidation?

The EA deal arrives amid the most intense consolidation wave in gaming history. Microsoft's acquisition of Activision Blizzard, Sony's purchase of Bungie, Embracer Group's spending spree (and subsequent collapse), and now Saudi Arabia's LBO of EA signal an industry in flux.

Private equity and sovereign wealth funds are circling game publishers with cash reserves that dwarf traditional industry buyers. Take-Two, Ubisoft, and even smaller studios are now seen as potential targets as investors bet that gaming's $200 billion global market remains undervalued.

For EA, Monday marks the end of 31 years as a public company—a run that began with its 1989 IPO and saw it survive industry crashes, platform transitions, and the rise of mobile and live-service gaming. What comes next is uncharted: the world's largest game publisher, backed by one of the world's wealthiest governments, operating beyond the scrutiny of public markets.

Shareholders will receive their $210 per share. Players will log into Madden and The Sims as usual. But the power behind those franchises has fundamentally shifted—and the gaming industry is watching closely to see what Saudi Arabia plans to do with its $55 billion prize.