A consortium led by Saudi Arabia's Public Investment Fund has completed its $55 billion acquisition of Electronic Arts, marking the kingdom's biggest push yet into the global gaming industry as it accelerates efforts to diversify its economy beyond oil.
California-based EA, best known for franchises including Battlefield, The Sims and EA Sports FC, said in a regulatory filing that it had secured the required approvals. The company will be delisted and taken private.
The investor group also includes Affinity Partners, the private equity firm founded by Jared Kushner, US President Donald Trump's son-in-law.
The deal was first proposed in September 2025 and is believed to be the largest leveraged buyout in history.
“Completion of the merger remains subject to the satisfaction or waiver of the remaining customary closing conditions set forth in the merger agreement,” EA said.
The PIF and EA have not released statements on the acquisition.
The gaming and esports industry is a key element of Saudi Arabia's Vision 2030, which seeks to diversify the kingdom's economy away from oil into new sectors. Saudi Arabia's national gaming and esports strategy is aimed at positioning the country as a global centre for the sector.
The kingdom recently hosted the Esports World Cup in Riyadh, and is expected to host the first edition of the Olympic Esports Games in 2027.
The PIF has been aggressively building its portfolio across global sectors. It currently has more than $900 billion in assets under management and over 220 portfolio companies, according to its website.
In early 2022, the PIF launched Savvy Gaming Group, chaired by Saudi Crown Prince Mohammed bin Salman, to become “the leading games and esports group domestically and internationally, and will work to further develop an integrated ecosystem for the sector”, the sovereign wealth fund said.
Gaming and esports are also among the “strategic sectors” the PIF is focusing on, alongside artificial intelligence and renewable energy, as it seeks to continue the momentum from the sixfold growth in its assets under management, PIF governor Yasir Al Rumayyan said in April after the fund approved its 2026-2030 strategy.
“The PIF will continue to support Saudi Vision 2030 objectives by delivering competitive domestic ecosystems, investing in national champions that have the potential to scale globally, and forming global economic partnerships,” he added.
