Video game maker Electronic Arts to be taken private in record $55bn deal

(Sharecast News) - US video game maker Electronic Arts said on Monday that it has agreed to be taken private for $55bn by a consortium comprising Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners. It said the deal positions EA "to accelerate innovation and growth to build the future of entertainment".

Under the terms of the agreement, EA shareholders will receive $210 per share in cash. This is a 25% premium to EA's unaffected share price of $168.32 at the close of markets on 25 September.

EA - which makes games such as Battlefield, The Sims and Madden NFL, among others - said this is the largest all-cash sponsor take-private investment in history.

The company's chairman and chief executive Andrew Wilson said: "Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world's most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work.

"Looking ahead, we will continue to push the boundaries of entertainment, sports, and technology, unlocking new opportunities. Together with our partners, we will create transformative experiences to inspire generations to come. I am more energised than ever about the future we are building."