EA is now a private company
Jay Peters is a senior reporter covering technology, gaming, and more. He joined The Verge in 2019 after nearly two years at Techmeme.
Electronic Arts has officially become a private company. Last September, EA announced that an investor group led by Saudi Arabia’s Public Investment Fund (PIF), Silver Lake, and Affinity Partners would be taking the company private in a $55 billion deal, and on Tuesday, EA said the deal successfully closed. The PIF will reportedly own 93.4 percent of the new company.
The deal includes $20 billion of debt financing — making it the largest leveraged buyout ever — which could mean big changes at EA to justify the deal. As of late, EA has been focusing heavily on its big tentpole franchises, including things like Battlefield, its sports games like EA Sports FC and Madden NFL, and The Sims. Given the stakes of...
Copyright of this story solely belongs to theverge.com. To see the full text click HERE
