Electronic Arts has completed a $55 billion buyout, returning the video game publisher to private ownership with $20 billion in new debt.
EA said last week the deal had cleared all required regulatory hurdles, allowing the transaction to close several months later than originally anticipated. The proposed acquisition was announced in September, and EA shareholders approved it a few months later.
Saudi Arabia’s Public Investment Fund now owns more than 93% of EA. Private equity firms Silver Lake and Affinity Partners are also among the new owners. Chief Executive Andrew Wilson will continue to lead the company. EA remains based in Redwood City, California.
The transaction is the largest leveraged buyout on record. The buyers used $20 billion in debt financing to complete the acquisition, leaving EA responsible for repaying that debt over time.
EA reported profit of $387 million after operating expenses and taxes for its most recent fiscal quarter ended June 30. In a letter to employees announcing the deal’s closure, Wilson said EA remained committed to “building the world’s greatest games, communities, and creative culture.”
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