Electronic Arts' buyout by Saudi Arabia's PIF is cleared by European regulators

The European Commission announced on Thursday that the acquisition of sole control of Electronic Arts (EA) by the Public Investment Fund of Saudi Arabia and partners has been approved.

The regulator noted that the transaction relates primarily to the production and distribution of video games for mobile devices, PCs, and consoles, as well as the organization and commercialization of video game competitions, commonly referred to as electronic sports events. The European Commission concluded that the transaction would not raise competition concerns due to the limited impact on competition in the markets where the companies are active. The notified transaction was examined under the normal merger review procedure.

Electronic Arts (EA) agreed to be taken private in a $55B all-cash deal led by Saudi Arabia’s Public Investment Fund, with Silver Lake and Affinity Partners as minority investors. Shareholders approved the sale, and the deal is still awaiting final regulatory clearance before closing.

Shares of Electronic Arts (EA) closed at $208.95 on Wednesday vs. the acquisition price of $210.00.