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Public Investment Fund group buys Electronic Arts
Electronic Arts (EA) has announced the completion of a takeover deal led by the Saudi Public Investment Fund, which has invested over five years in the company. As a result, EA’s ownership has been transferred from the NASDAQ to the investment coalition, at a price of $210 in cash per share. EA is one of the largest developers and publishers of video games, and plans to increase investment in innovation and the development of a new generation of games and digital experiences, with a focus on AI technologies. This move is part of the Fund’s strategy to diversify the Saudi economy and strengthen the gaming and e-sports sectors, where the Saudi market boasts over 23.5 million players and is experiencing rapid growth in gaming device revenue.
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