Electronic Arts sold for $55bn to Saudi-led investment group

Electronic Arts (EA), the developer behind popular video games such as The Sims and EA FC, has been acquired for $55 billion by a group led by Saudi Arabia's Public Investment Fund. This acquisition takes the company into private ownership and places it in a heavily leveraged position.

The acquisition involves Affinity Partners, which is associated with Jared Kushner, the son-in-law of former U.S. President Donald Trump. The deal was finalized shortly after receiving regulatory approval from the European Union, which marked the last step in the process.

EA confirmed the completion of the sale on Tuesday evening. This significant financial transaction reflects ongoing investments in the gaming industry by Saudi Arabia, which is looking to diversify its economic portfolio.

The purchase represents one of the largest buyouts in the video game sector, further establishing Saudi Arabia's presence in global entertainment and technology markets.