17 Hrs
Source:
الاقتصادية
Investment Fund coalition acquires Electronic Arts
An investment group led by the Saudi Public Investment Fund has taken over Electronic Arts, one of the largest digital entertainment and video game companies, following a deal valued at $210 per share, turning the company into a private entity. This move aligns with Saudi Arabia's strategy to promote the gaming and e-sports industry, as the country seeks to strengthen its position as a global hub for this sector and aim for contributions exceeding 50 billion riyals to the gross domestic product. The Kingdom is experiencing rapid growth in the gaming market, with over 23.5 million players and a significant increase in e-sports viewership, along with investments and acquisition agreements with international companies to bolster the national industry ecosystem.
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