A pedestrian walks past a commercial advertisement for the football simulation video game franchise EA Sports FC, FC26, in Hong Kong. [Getty]
The European Union on Thursday approved a $55 billion Saudi-led bid for video game giant Electronic Arts, known for The Sims, FIFA games and more.
Saudi Arabia’s Public Investment Fund leads the consortium for the deal, including US investment firms Silver Lake and Affinity Partners, the Miami-based firm founded by Jared Kushner, son-in-law of President Donald Trump.
The European Commission, the EU’s powerful competition regulator, said it concluded the acquisition “would not raise competition concerns, given its limited impact on competition in the markets where the companies are active”.
The commission is also looking into the takeover under its foreign subsidies rules, with a decision expected by 30 July.
The FIFA football games were updated annually from 1993 to 2023, before Electronic Arts lost the licence following a financial disagreement between EA and the FIFA organisation.
The game, now called EA Sports FC, has largely retained its player base.
Video games are at the heart of the Saudi crown prince’s ambitious “Vision 2030” reform plan.
The oil-rich monarchy is passionate about gaming and eSports: 70 percent of Saudis are under 35, and Mohammed bin Salman, aged 40, is himself known to be a fan of the game Call of Duty.
The deal will be financed through approximately $36 billion in equity from the consortium members and $20 billion in debt committed by JPMorgan Chase. Upon completion, EA will be delisted from the Nasdaq stock exchange and remain headquartered in Redwood City, California, under Wilson’s continued leadership.
