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EA Goes Private in $55 Billion Deal With PIF, Silver Lake, and Affinity Partners

EA’s sale to PIF, Silver Lake-affiliated funds, and Affinity Partners closed August 4, 2026. Eligible shareholders received $210 per share, and Andrew Wilson was CEO at closing.
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Electronic Arts completed its sale to a consortium led by Saudi Arabia’s Public Investment Fund (PIF), alongside funds affiliated with Silver Lake and Affinity Partners, on August 4, 2026. Eligible EA shareholders received $210 in cash per share under the announced terms. Andrew Wilson was Chairman and CEO at closing; the company has not specified a guaranteed length for his future tenure.

Did EA go private?

Yes. EA announced the definitive acquisition agreement on September 29, 2025, and said the transaction closed on August 4, 2026. EA’s closing notice said its common stock ceased trading and would be delisted from NASDAQ. The deal is completed, not pending shareholder or regulatory approval.

EA stockholders approved the transaction at a special meeting on December 22, 2025. The closing announcement confirms the final close and trading change.

Who bought Electronic Arts?

The buyer consortium consists of PIF, private investment funds affiliated with Silver Lake, and private investment funds affiliated with Affinity Partners. Under the SEC-filed merger agreement, Oak-Eagle AcquireCo, Inc. is the parent company and Oak-Eagle MergerCo, Inc. merged into EA. EA survives as a wholly owned subsidiary of the parent.

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PIF agreed to roll over its existing 9.9% stake in EA as part of the agreement, rather than cashing out that entire holding on the same basis as other eligible shareholders. The SEC-filed merger materials set out the transaction structure.

How much was the deal worth, and what did shareholders receive?

EA described the transaction’s enterprise value at announcement in 2025 as approximately $55 billion. Eligible shareholders were to receive $210 in cash for each share, a figure also confirmed in EA’s 2026 closing notice.

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These are different measures: enterprise value describes the value assigned to the business in the transaction, while $210 per share is the cash consideration for eligible shareholders’ shares. The $55 billion figure is not a statement that every shareholder received a proportional share of that amount.

EA called the transaction the largest all-cash sponsor take-private investment in history in its September 2025 announcement. That is EA’s announcement-time characterization, not an independently updated ranking.

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How was the acquisition financed?

The SEC-filed materials identify a $20 billion debt financing commitment. That commitment was one part of the financing, not the total deal value or a statement of all funding sources. The announced enterprise value was approximately $55 billion; those figures should not be treated as interchangeable.

Is Andrew Wilson still CEO?

EA identified Andrew Wilson as Chairman and CEO at the August 4, 2026 closing. That establishes his role at closing, but EA’s closing notice does not promise how long he will remain in the job.

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Wilson said at closing: “We’re entering this next chapter from a position of strength with partners who share our vision and ambition.” The statement reflects his view of the company’s next phase, rather than a guarantee about future leadership or performance.

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What EA and the buyers said about the company’s next phase

Silver Lake CEO and Managing Partner Egon Durban said the consortium planned to invest in EA’s growth, including exploring AI’s potential to enhance game development and player experience. Those comments describe the buyers’ stated intentions; they do not establish what investments will be made or what results AI will produce.

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EA SPORTS College Football 27 - Standard Edition Xbox Series X |Disc I VideoGame
  • Standard Edition for Xbox Series X (disc) includes the full EA SPORTS College Football 27 game. Not compatible with Xbox One.
  • DYNASTY BLUEPRINT – Control your program’s future with recruiting, NIL, staff, facilities, and Athletic Director Expectations..
  • ROAD TO GLORY – Build your player, explore new positions, earn NIL deals, chase the Heisman, and raise your Legacy Score.
  • MASCOT MASHUP – Play as your favorite mascot, collect 120+ icons, and compete in wild 11-on-11 matchups full of school spirit.

EA’s closing announcement also reported approximately $7.5 billion in GAAP net revenue for fiscal year 2026. That is the company’s reported revenue, not the acquisition’s value.

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