Electronic Arts to go private in US$55 billion deal with PIF, Silver Lake

Videogame publisher Electronic Arts said on Monday it has agreed to be taken private by a consortium consisting of private equity firm Silver Lake, Saudi Arabia's Public Investment Fund and Affinity Partners in a US$55 billion (HK$429 billion) deal.

Under the deal, EA shareholders will receive US$210 per share in cash, representing a premium of 25 percent as of the company's closing share price on September 25 before reports of a deal emerged.

The offer comes at a crucial time for Electronic Arts, which is gearing up to launch the highly-anticipated "Battlefield 6" in an industry where gamers stick to proven and recognizable titles.

Reuters