Consortium to Buy Electronic Arts in $55 Billion All-Cash Deal
The acquisition by PIF, Silver Lake, and Affinity Partners aims to accelerate innovation at the intersection of creativity and technology [1][2].
A consortium comprising the Public Investment Fund (PIF), Silver Lake, and Affinity Partners has completed its acquisition of Electronic Arts Inc. (EA) in an all-cash transaction. The deal valued the interactive entertainment company at an enterprise value of approximately $55 billion.
Under the terms of the agreement, EA stockholders received $210 in cash for each share of common stock. This purchase price represented a 25% premium to the company's unaffected share price of $168.32 as of September 25, 2025. The transaction, which was approved by stockholders on December 22, 2025, resulted in EA's common stock ceasing trade and being delisted from NASDAQ.
The acquisition is intended to accelerate EA's ability to innovate at the intersection of creativity, technology, and community to create new ways for people to play, create, watch, and connect. “EA is entering this next chapter from a position of strength—with extraordinary talent, incredible franchises, global communities, and a bold vision for the future,” said Andrew Wilson, Chairman and CEO of Electronic Arts.
Headquartered in Redwood City, California, EA is a global leader in digital interactive entertainment that develops games and online services for consoles, mobile devices, and personal computers. The company's portfolio includes brands such as EA SPORTS FC, Battlefield, Apex Legends, and The Sims. In fiscal year 2026, the company posted GAAP net revenue of approximately $7.5 billion.
The transaction was the largest all-cash sponsor take-private investment in history. The deal was funded through a combination of equity contributions from the consortium members—including a rollover of PIF's existing 9.9% stake—and $20 billion in debt financing committed by JPMorgan Chase Bank, N.A..
To facilitate the closing, the consortium entered into a credit agreement providing for a $6.125 billion tranche and a €1.725 billion tranche of first lien term loan B, as well as a $3.25 billion first lien term loan A facility. The funding also included the issuance of $2.875 billion in 7.250% senior secured notes, €1.080 billion in 6.250% senior secured notes, and $2.5 billion in 8.750% senior notes.