In December 2025, **Electronic Arts (EA) shareholders overwhelmingly approved a $55 billion buyout led by Saudi Arabia’s Public Investment Fund (PIF) alongside private equity partners Silver Lake and Affinity Partners, paving the way for EA to go private after more than four decades as a public company. This all-cash transaction — offering $210 per share — clears a key corporate hurdle and thrusts one of the world’s largest game publishers into new ownership, with major implications for franchises like Battlefield, Apex Legends, EA SPORTS FC, and more.
From my 15 years covering the gaming business — from the EA vs. fan controversies in the 2010s to today’s consolidation wave — this move isn’t just financial; it will reshape how EA prioritizes games, live services, and long-term innovation. Investors got their payday. Players are now asking: what’s next?
What the Shareholder Vote Actually Means
A Historic Deal Finally Cleared
EA’s shareholders voted in favor of the transaction in late December 2025, approving the $55 billion sale at $210 per share, a roughly 25 % premium over EA’s market price before the deal announcement.
This vote clears a major corporate governance hurdle but doesn’t mean the deal is fully done. Regulatory approvals — from the U.S., EU, and other antitrust authorities — are still required before the acquisition formally closes, which is expected in 2026 or early 2027.
Once completed, EA will:
- Cease trading publicly and be taken private.
- Be majority-owned (about 93.4 %) by the Saudi PIF.
- Remain headquartered in California and retain current leadership, with CEO Andrew Wilson expected to stay on.
From the perspective of long-time EA watchers, this ending of the public-company era marks a seismic shift in how the publisher will be governed and evaluated. Public markets enforced quarterly scrutiny; private ownership opens different strategic options — for better or worse.
Why Saudi PIF and Consortium Investors Want EA
Vision 2030 and Gaming as Strategic Entertainment
Saudi Arabia’s Public Investment Fund is executing a broad entertainment and gaming strategy under its government’s Vision 2030 diversification plans. Buying EA — publisher of major global franchises — is part of building a global gaming ecosystem with economic and cultural reach.
PIF has already been investing heavily in gaming: prior stakes in other companies and esports properties indicate a push to make Saudi Arabia a hub in the games and esports landscape.
Why the Consortium Structure Matters
The deal isn’t a straight state acquisition — it’s a consortium:
- PIF will own the largest share (~93.4 %).
- Silver Lake, a well-known tech and media investor, will hold ~5.5 %.
- Affinity Partners, led by Jared Kushner, holds ~1.1 %.
This mix spreads financial risk and brings investment expertise, but it also raises questions about strategic alignment across the group — especially given PIF’s dominant position.
What This Means for EA’s Franchises and Fans
Battlefield and Apex Legends — Development and Release Cadence
EA’s shooter franchises — especially Battlefield (with Battlefield 6 recently launched to strong sales and positive reception) and Apex Legends — are central to its brand identity.
Going private could affect these titles in several ways:
1. Longer Development Horizons
Without public-market pressures, EA may be able to invest in longer development cycles, which many fans have long demanded given high-profile delays and patches in recent generations.
2. More Focus on Live Services
Investors care about recurring revenue: Apex Legends and FIFA-style live services are precisely that. PIF backing could see even more investment here — but perhaps at the cost of single-player content that doesn’t monetize as predictably.
3. Risk of Cost Cutting
Deals of this size often saddle companies with debt; this one is no different. Estimated at around $20 billion in leverage, it’s raised concerns about cost control measures that could affect staffing and development.
From conversations I’ve had with developers post-acquisition, morale can shift quickly when cost pressures rise — classic examples include post-acquisition restructurings in other AAA studios over the past decade.
Broader Industry Implications
The End of Shareholder Scrutiny — and What That Means
EA going private means no quarterly earnings calls, no shareholder activists, and no public stock performance pressure. That may sound good in theory: more long-term thinking, less market fatigue — but it reduces transparency, and fans may not know key business decisions until after they’re made. This is already a concern voiced in industry discussions.
Foreign Influence and Political Concerns
The involvement of Saudi PIF isn’t just financial; it carries diplomatic and political connotations. Some U.S. lawmakers have expressed concern about foreign influence in major cultural companies, and gaming — especially global franchises — plays into national soft power.
Unlike a typical takeover by another public game publisher, this isn’t simply corporate consolidation — it’s international capital reshaping a major piece of cultural entertainment.
What’s Next Before the Deal Closes
The shareholder vote was a major milestone, but not the last one. Key remaining steps include:
- Regulatory approvals from bodies in the U.S., EU, and potentially other markets.
- Debt financing arrangements finalization.
- Final closing and delisting from public exchanges, likely in 2026–2027.
EA’s leadership has repeatedly stated that its “mission, values, and commitment to players and fans around the world” will remain unchanged, but investors and analysts are watching closely whether that holds true in practice.
Fan Perspectives — Big Payday or Sellout?
In gaming communities, reactions are nuanced. Reddit threads show a mix of viewpoints:
- Some gamers believe this could be a fresh start, distancing EA from quarterly pressures that arguably contributed to monetization excesses of the past.
- Others worry that private ownership — especially with heavy debt — could prioritize cost efficiency over innovation, leading to layoffs or slowed AAA development.
Cultural criticism also emerges around Saudi involvement, given broader geopolitical debates — though these don’t directly affect game mechanics, they do influence brand perception and community sentiment.
Conclusion: A Deal That Reshapes Gaming’s Future
The EA shareholder approval of the $55 billion Saudi PIF-led buyout is one of the most consequential moments in modern gaming. It closes the public chapter of a company that helped define blockbuster franchises, live services, and esports revenue models. But it opens a new one — where private capital, global strategy, and cultural influence converge.
For Battlefield and Apex Legends fans, the next few years may see deeper investments, more ambitious live-service roadmaps, and potentially a shift in how EA prioritizes its studios. Yet with that comes uncertainty: debt pressures, reduced transparency, and shifts in executive incentives could reshape what it means to love — or simply tolerate — the EA you grew up with.
Bottom line: this isn’t just business news; it’s a turning point in how AAA game companies are financed, governed, and experienced. And that will matter — intensely — to fans around the world.
