Electronic Arts, Saudi Arabia and private equity
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Jared Kushner’s private equity firm and Saudi Arabia’s sovereign wealth fund are some of the investors teaming up to take the video game giant private.
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Electronic Arts to be acquired for $55 billion as the gaming industry struggles with slowdown
Electronic Arts, the video game maker of 'Madden NFL,' 'The Sims,' and other popular titles, is being acquired and taken private for $55 billion.
Electronic Arts Videogame maker Electronic Arts said a group of investors including private-equity firm Silver Lake, Saudi Arabia’s Public Investment Fund and Jared Kushner’s investment firm Affinity Partners will buy it.
The deal for Electronic Arts is the largest-ever all-cash sponsor take-private investment, the companies involved said.
Videogame developer Electronic Arts has agreed to sell itself to a group of private investors in a deal that values the maker of "Battlefield" and "Madden NFL" at $55 billion, which if completed would be the largest leveraged buyout in history.
Video game maker Electronic Arts Inc. is in advanced talks to go private at about $210 a share, according to people familiar with the matter.
The California-based company said it entered into a definitive agreement to be acquired by consortium including PIF, Silver Lake and Affinity Partners.