The acquisition of EA is scheduled to be finalized on August 4, following the necessary approvals from regulatory authorities

The acquisition deal of Electronic Arts, valued at $55 billion, is anticipated to be finalized on August 4, pending all necessary regulatory approvals.

According to a recent SEC filing, EA stated that the merger's completion hinges on fulfilling or exempting some standard closing conditions specified in the merger agreement.

The EU Commission offered its approval earlier this week, determining that the merger would not significantly affect market competition as per their normal review process.

In an updated annual report dated July 28, EA described substantial achievements with a net income increase of 81.5%, reaching $461 million, and a 12% rise in net revenue to $2.1 billion. These gains were largely credited to the success of Battlefield 6 which achieved its launch goals and garnered favorable reviews.

Despite these positive results, the company announced in March that it let go of an undisclosed number of staff across four studios involved in the game's development.

The company explained to GamesIndustry.biz, "We have restructured our Battlefield team to focus efforts on the areas most important to our community. Battlefield remains crucial for us, and our investments in the franchise continue, utilizing player suggestions and insights from Battlefield Labs."

Last year in September, investors including Saudi Arabia's Public Investment Fund, Silver Lake Capital, and Affinity Partners, unveiled their intention to acquire EA with a $55 billion agreement.

EA's shareholders supported this acquisition plan in December, and once the transaction is complete, it is expected that the PIF will hold more than 93.4% of EA.

Some U.S. lawmakers previously urged the Federal Trade Commission to closely examine the acquisition, citing concerns over potential negative outcomes for employees.