Key Takeaways
- • Electronic Arts completed its acquisition by Saudi Arabia's Public Investment Fund, Affinity Partners (backed by Jared Kushner), and Silver Lake in an all-cash transaction valued at $55 billion, delisting the company from public markets as of August 4, 2026.
- • The deal required regulatory clearance from multiple jurisdictions, with the European Commission approving the transaction on July 23, 2026, removing a final significant roadblock before closure.
- • Silver Lake, the tech-focused private equity firm, contributed substantial capital to the consortium; the firm managed $102 billion in assets under management as of December 31, 2025, positioning it among the top 25 PE firms globally.
- • Affinity Partners, founded by Jared Kushner in 2021 with $5.4 billion in AUM, is substantially financed by the Saudi PIF and has faced scrutiny due to Kushner's concurrent role as an envoy for the Trump administration in Middle Eastern dealings.
- • The transaction removes one of the gaming industry's largest publishers from public equity markets, consolidating control under state-backed and private equity ownership.
Summary
Electronic Arts, the publisher behind major gaming franchises including Madden, officially transitioned to private ownership on August 4, 2026, following completion of a $55 billion all-cash acquisition. The consortium acquiring EA comprises three parties: Saudi Arabia's Public Investment Fund (PIF), Silver Lake Partners, and Affinity Partners. The deal marks a significant consolidation event in the gaming sector, removing a publicly traded company with substantial market capitalization from equity exchanges.
Regulatory approval across multiple jurisdictions was a critical milestone for deal completion. The European Commission granted final approval on July 23, 2026, clearing a substantial regulatory hurdle. EA subsequently filed documentation with the U.S. Securities and Exchange Commission on July 30, 2026, confirming that all required regulatory approvals had been obtained, with the merger expected to close at the end of trading on August 4, 2026.
Silver Lake, a New York and Menlo Park-based technology investment firm founded in 1999, served as a primary institutional investor. As of December 31, 2025, Silver Lake managed $102 billion in assets under management, positioning the firm within the top 25 private equity firms by AUM. Affinity Partners, the second major investor alongside the PIF, was founded in 2021 by Jared Kushner and held $5.4 billion in assets under management as of 2025. Notably, Affinity Partners is predominantly financed by the Saudi PIF, creating a direct linkage between the two principal equity sources. Kushner's concurrent role as an envoy for the Trump administration in Middle Eastern affairs has drawn government scrutiny and public controversy regarding potential conflicts of interest.
The acquisition represents a strategic entry by Saudi Arabia's sovereign wealth fund into the interactive entertainment sector, alongside established private equity investors. The transaction consolidates control of EA's gaming portfolio—including the Madden franchise and associated intellectual property—under private ownership, removing the company from public market oversight and dividend expectations while enabling operational restructuring under new ownership.
Regulatory approval across multiple jurisdictions was a critical milestone for deal completion. The European Commission granted final approval on July 23, 2026, clearing a substantial regulatory hurdle. EA subsequently filed documentation with the U.S. Securities and Exchange Commission on July 30, 2026, confirming that all required regulatory approvals had been obtained, with the merger expected to close at the end of trading on August 4, 2026.
Silver Lake, a New York and Menlo Park-based technology investment firm founded in 1999, served as a primary institutional investor. As of December 31, 2025, Silver Lake managed $102 billion in assets under management, positioning the firm within the top 25 private equity firms by AUM. Affinity Partners, the second major investor alongside the PIF, was founded in 2021 by Jared Kushner and held $5.4 billion in assets under management as of 2025. Notably, Affinity Partners is predominantly financed by the Saudi PIF, creating a direct linkage between the two principal equity sources. Kushner's concurrent role as an envoy for the Trump administration in Middle Eastern affairs has drawn government scrutiny and public controversy regarding potential conflicts of interest.
The acquisition represents a strategic entry by Saudi Arabia's sovereign wealth fund into the interactive entertainment sector, alongside established private equity investors. The transaction consolidates control of EA's gaming portfolio—including the Madden franchise and associated intellectual property—under private ownership, removing the company from public market oversight and dividend expectations while enabling operational restructuring under new ownership.
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