Saudi Arabia bought Electronic Arts worth $ 55 billion • DigiKala Mag

Electronic Arts has announced in an official report that it is purchased by a consortium of investors, including the Saudi PIF, Silver Lake, and AFFINity Partners in a $ 5 billion cash deal. The consortium will obtain 2 % of Artz Electronic Stocks and retains its previous 4.9 percent stock.

According to the press statement, all three sides have “deep experience in industry, committed capital and global portfolio with networks in the field of gaming, entertainment and sports that allow Electronic Arts to combine physical and digital experiences, increase engagement with fans, and create new growth opportunities. The deal is also the biggest private purchase of history. It is interesting to note that PIF, which currently holds nearly 2 % of Electronic Arts shares, as well as investments in Partners, has also been investing in other large companies such as Nintendo, Take-TWO Interactive and Capcom.

The following statements of the parties to the transaction are:

Andrew Wilson (Andrew Wilson); Chairman of the Board of Directors and CEO of Electronic Arts

Our creative and passionate teams in Electronic Arts have created great experiences for hundreds of millions of fans, have created some of the most symbolic IPs in the world, and have created a significant value for our business. This moment is a strong approval of their impressive work. We look at the future and will continue to move the boundaries of entertainment, sports and technology and release new opportunities. With our partners, we will create transformative experiences to inspire future generations. I have never been excited about the future we make today.

Louis E. Obinas (Luis A. Ubinas), Independent Chairman of the Electronic Arts Board of Directors

The Board of Directors carefully examined the opportunity and concluded that the deal creates a significant value for shareholders and is in the interest of all stakeholders. We are pleased that this agreement brings an urgent and definitive cash value to our shareholders and at the same time reinforces the Electronic Arts ability to continue the experiences that define the future of entertainment.

Turki AlNowaiser, head of the Saudi State Wealth Fund

PIAF has a unique place in the global gaming industry and electronic sports, making and supporting ecosystems that connect fans, developers and creators of IPs. PIAF has shown its strong commitment to these industries, and this cooperation will contribute to the long -term growth of Arts, while also boosting innovation in industry on a global scale.

Egon Durban, CEO and Management Partner Silver Lake

This investment shows Silver Lake’s mission to work with prominent management teams in the best companies in the world. Electronic Arts is a special company with a high -profile sports complex, rapid revenue growth and a powerful free -cash flow and expanding interactive global leader. We are proud to invest alongside Andrew, an extraordinary CEO who doubled the revenue, has almost three times the operating profit and five times the market value. The future of Arts Electronic is clear, we intend to invest widely to grow business and support Andrew and Electronic Arts to accelerate innovation, expand global access, and provide surprising experiences for players and fans in different generations.

Jared Kushner, CEO of Partners Affiliaries

Electronic Arts is a great company with a world -class management team and a bold vision for the future. I have always admired their ability to create enduring and symbolic experiences, and as someone who grew up with their games and now enjoying them with his children, I can’t be more excited about the future.

It is worth noting that the transaction is to be finalized in the first quarter of the fiscal year, and it has been announced that after the finalization, ordinary orthosis electronic shares will no longer be traded in any public market. Once the transaction is completed, the company’s headquarters will remain in California, and Andrew Wilson will continue to serve as the CEO of the company. Finally, like many game publishers, the orthosis electronic business has been having problems in recent months. The company has fired a number of employees and canceled future projects, including Titan Fal and Black Panther. The company also announced in January that the Dragon Age: The Veilguard game was also less than expected.

Source: Gematsu