In what could become the largest leveraged buyout in history, Saudi Arabia’s Public Investment Fund (PIF) is reportedly leading a consortium, including private equity giant Silver Lake and Jared Kushner’s Affinity Partners, to acquire videogame powerhouse Electronic Arts (EA) — the company behind blockbuster franchises like Battlefield and FC — in a deal valued at approximately $50 billion.
Sources familiar with the negotiations said the acquisition could be announced as early as next week, marking a seismic shift in the global gaming industry. The potential buyout comes at a pivotal moment for EA, which is banking on its flagship titles Battlefield 6 and FC 26 to sustain revenues amid a sluggish gaming market and more selective consumer spending.
The deal would further accelerate consolidation within the gaming sector, following major acquisitions like Activision Blizzard and Zynga, significantly reducing the number of publicly traded gaming companies.
“EA does make sense as an acquisition target – the cash flows are fairly consistent and EA’s annualized titles make for predictable revenue/profitability,” said Wyatt Swanson, analyst at D.A. Davidson & Co.
EA shares closed 15% higher on Friday, reflecting renewed optimism as large-scale mergers and acquisitions rebound in 2025, driven by growing boardroom confidence, cheaper capital, and strategic consolidation trends.
The acquisition aligns with Saudi Arabia’s Vision 2030, which aims to diversify the Kingdom’s economy beyond oil and establish its presence in the world’s largest entertainment market. Through its gaming arm, Savvy Games Group, PIF has made significant investments in global gaming and esports, viewing gaming as a key pillar of cultural infrastructure.
“For Saudi Arabia’s PIF, the deal would cement games as cultural infrastructure — assets as critical to global influence as sports or film,” said Joost van Dreunen, professor of games at NYU Stern School of Business.
