Electronic Arts Goes Private in Landmark $55 Billion Buyout

On 4 August 2026, EA announced (opens in a new tab) that its acquisition by PIF, Silver Lake and Affinity Partners had closed. Stockholders receive $210 in cash for each share. EA common stock has stopped trading and will be delisted from NASDAQ.^[1]

The agreement was announced on 29 September 2025 (opens in a new tab) and approved by stockholders at a special meeting on 22 December 2025. At announcement EA guided to a close in the first quarter of fiscal 2027 (April to June 2026). The deal completed a few weeks after that window.^[1][2]

EA put the enterprise value of the all-cash deal at approximately $55 billion, and the parties called it the largest all-cash sponsor take-private in history. The $210 offer was a 25% premium to EA's unaffected close of $168.32 on 25 September 2025, and above its unaffected all-time high of $179.01 on 14 August 2025.^[2]

Each consortium member said it would fund its equity entirely from capital under its own control. The consortium acquires 100% of EA, which stays headquartered in Redwood City.^[2]

EA develops and publishes games and live services across consoles, PC and mobile. The completion release reports fiscal 2026 GAAP net revenue of about $7.5 billion, from a portfolio that spans sports, live-service shooters, life simulation and racing.^[1]

In an employee note, Our Next Chapter (opens in a new tab), Wilson presents private ownership as a new chapter and names Cam Weber (President and Chief Studios Officer) and David Tinson (President and COO) as key partners. Keeping those people in place is part of what the consortium paid for.^[3]

PIF had been a minority investor in EA for more than five years and already knew its sports and gaming franchises. Silver Lake brings large-scale technology investing and has said it will invest heavily in EA's growth, including in AI for game development. Affinity adds flexible growth capital. Together they can back multi-year franchise investment without a share price marking the company every quarter.^[1]

For public stockholders, the deal locked in value at a 25% premium. Certain cash was the stockholder story. Control and a longer time horizon are the buyer story.^[2]

The freedom case

Private ownership can let EA invest in studios, live services and adjacent entertainment over longer periods than a quarterly equity story usually tolerates. Wilson staying on, and the emphasis on studio leadership, support that reading.

The discipline case

A leveraged take-private of this size still has to service its debt and deliver sponsor returns. That can mean sharper portfolio choices, tighter working capital and less patience for underperforming experiments. The $18bn expected to be drawn at close is the reminder that the freedom has a cost.

What it means for gaming M&A

Scaled interactive IP remains scarce. When sovereign and private capital can underwrite tens of billions against durable franchises, a public listing is a choice rather than a destiny. For buyers and sellers of gaming assets, EA is a valuation reference point: an all-cash take-private at this scale shows that scarce IP still clears when the capital stack is deep enough and management continuity comes with it.