EA's buyout by Saudi Arabia and private equity is gaming's 2nd biggest deal ever

Electronic Arts, one of the world's largest video game companies, is set to be acquired in a $55 billion deal, making it the second-largest transaction in the gaming industry's history. The deal involves a consortium led by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), and private equity firms such as Silver Lake and Advent International. Under the terms of the agreement, EA shareholders will receive $142.50 in cash per share, representing a premium of nearly 30% over the company's closing price on the day before the announcement. The transaction is expected to close by the end of 2023, subject to regulatory approvals and shareholder approval. The move to take EA private comes as the gaming industry continues to consolidate, with major players seeking to expand their portfolios and gain a stronger foothold in the rapidly growing market. The deal is seen as a strategic move by the Saudi fund and its partners to diversify their investments and capitalize on the growing demand for interactive entertainment.