Electronic Arts has finalized a $55 billion acquisition, leading to the CEO revealing changes in the senior leadership team

Logo for Electronic Arts, featuring the EA symbol in white inside a circle on the left, and the text 'Electronic Arts' in white to the right, against a bright blue background.

Image credit: Electronic Arts

Electronic Arts has finalized a $55 billion leveraged buyout, with major ownership now resting with Saudi Arabia's Public Investment Fund (PIF). This transition sees EA becoming private, with shareholders obtaining $210 per share in cash, and its removal from the NASDAQ listing.

Andrew Wilson, CEO, has appointed Cam Weber as chief studios officer and David Tinson as COO. Both Weber and Tinson have also been named company presidents. In a memo to employees, Wilson expressed his enthusiasm for this new leadership, noting their extensive experience and dedication.

Wilson stated, "Leading this next phase requires bold creativity and exceptional execution. We have a deeply experienced leadership team, and as our opportunities continue to expand, I'm excited to partner with Cam and David." He noted their contributions to EA's transformative times and their ability to foster creativity and community.

The acquisition, first revealed on September 29, was orchestrated by a group of investors, including Saudi Arabia's PIF, Silver Lake, and Affinity Partners. Shareholder approval was granted in December, and all necessary regulatory clearances were completed by July 31.

Turqi Alnowaiser, deputy governor of Saudi Arabia's PIF, emphasized their longstanding familiarity with EA, having been minority investors for over five years. Alnowaiser highlighted entertainment and sports as pivotal areas for the PIF's strategy, expressing excitement for the consortium's role in promoting growth and innovation at EA.

The PIF's engagement with EA grew significantly, with an over $3 billion investment in 2021 and increasing its share by 55% in 2023. Egon Durban, CEO of Silver Lake, praised EA's pioneering innovation, particularly regarding AI's potential to advance game development and player experience. Durban conveyed enthusiasm for collaborating with EA's team to elevate gaming experiences.

Jared Kushner, CEO of Affinity Partners, also shared anticipation for supporting EA's endeavors to engage new audiences and inspire future creators, enhancing global connections through gameplay.