Summary
Saudi Arabia's Public Investment Fund (PIF) plans to buy the gaming company Electronic Arts (EA) for $55 billion. PIF is investing along with partners Silver Lake and Affinity Partners. This acquisition is part of Saudi Arabia's efforts to expand its influence in the gaming industry.
Key Facts
- Saudi Arabia's Public Investment Fund (PIF) leads a consortium to acquire Electronic Arts (EA) for $55 billion.
- The consortium includes Silver Lake and Affinity Partners, led by Jared Kushner.
- Saudi Arabia has invested in other areas, such as sports teams and events, drawing scrutiny related to their broader goals.
- PIF previously owned about 9-10% of EA.
- EA creates popular video games like Apex Legends, FIFA (now EA Sports FC), and The Sims.
- The deal means EA will become a private company, with all public shares being bought.
- The acquisition reflects Saudi Arabia's strategic move to control and influence the gaming industry.
