EA Shareholders Approve Historic $55bn Takeover by Saudi Arabia’s PIF

In a landmark shift for the video game industry, shareholders of Electronic Arts (EA) have voted to approve a $55 billion takeover bid by Saudi Arabia’s Public Investment Fund (PIF).

The vote, which took place on Monday, moves the deal one step closer to completion, though it still requires significant clearance from government regulators in the US and abroad.

Deal Details and Ownership Structure

Under the terms of the approved deal, Saudi Arabia’s PIF—the sovereign wealth fund chaired by Crown Prince Mohammed bin Salman—would acquire a controlling 93.4% stake in the publishing giant. This effectively places some of gaming’s most lucrative properties, including EA Sports FC (formerly FIFA), Madden NFL, The Sims, and Apex Legends, under Saudi ownership.

The remaining 5.5% of shares will be held by Silver Lake Partners, a US-based private equity firm.

If finalized, this acquisition would stand as the largest leveraged buyout in the history of the video game sector, surpassing even Microsoft’s acquisition of Activision Blizzard in scale and geopolitical significance.

Regulatory Hurdles and National Security Concerns

Despite shareholder approval, the deal is far from done. It faces intense scrutiny from US regulators, with several Senators already raising red flags regarding national security and foreign influence.

In a letter addressed to Treasury Secretary Scott Bessent, two US Senators urged the Committee on Foreign Investment in the United States (CFIUS) to apply “searching scrutiny” to the privatization of such a major American technology and entertainment asset.

Critics of the deal, including the concerned lawmakers, argue that the PIF’s aggressive expansion into sports and gaming—often termed “sportswashing”—is a strategy to leverage cultural influence rather than a purely financial play. They have also questioned the involvement of Affinity Partners, an investment firm founded by Jared Kushner, suggesting its partnership may be a strategic move to smooth the approval process with the current administration.

Financial Context

The acquisition comes at a time when Saudi Arabia’s finances are reportedly under strain due to massive spending on “Vision 2030” projects. However, the Kingdom remains committed to becoming a global hub for gaming and esports, having already acquired significant stakes in Nintendo, SNK, and Capcom, as well as owning ESL FACEIT Group.

The industry now waits to see if Washington will block the deal or allow one of America’s oldest gaming titans to pass into foreign control.