Skip to main content

$55 billion EA buyout hands Madden over to investors including Saudi Arabia and Jared Kushner

Electronic Arts has announced it is being acquired and taken private in a $55 billion deal involving Silver Lake, Saudi Arabia’s Public Investment Fund, and Affinity Partners, which is founded and led by Donald Trump’s son-in-law, Jared Kushner.

The deal is expected to close in the first quarter of 2027 and is still subject to approval by regulators and EA stockholders. If approved, it will mark one of the biggest buyouts of a publicly traded company.

The transaction was approved by EA’s Board of Directors, is expected to close in Q1 FY27 and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders. Following the close of the transaction, EA’s common stock will no longer be listed on any public market.

The transaction will be funded by a combination of cash from each of PIF, Silver Lake, and Affinity Partners as well as roll-over of PIF’s existing stake in EA, constituting an equity investment of approximately $36 billion, and $20 billion of debt financing fully and solely committed by JPMorgan Chase Bank, N.A., $18 billion of which is expected to be funded at close. Each of PIF, Silver Lake, and Affinity Partners plan to fund the equity component of the financing entirely from capital under their respective control.

Upon completion of the transaction, EA will remain headquartered in Redwood City, California and continue to be led by Andrew Wilson as CEO.

PIF, which already holds a nearly 10 percent stake in EA and has also poured money into Affinity Partners, also invests in other gaming giants like Nintendo, Take-Two Interactive, and Capcom. The companies announced the agreement just days before EA plans to launch Battlefield 6 on October 10th.

Like other game publishers, EA’s business has experienced some turbulence in recent months, with the company laying off staff and canceling upcoming Titanfall and Black Panther titles. EA also said in January that Dragon Age: The Veilguard “underperformed” expectations.

“Our creative and passionate teams at EA have delivered extraordinary experiences for hundreds of millions of fans, built some of the world’s most iconic IP, and created significant value for our business. This moment is a powerful recognition of their remarkable work,” said EA CEO Andrew Wilson.



from The Verge https://ift.tt/dJmyC43
Labels:

Comments

Post a Comment

Popular posts from this blog

Pandora Stories lets artists add commentary to their own playlists

Pandora launched Stories today, a tool that lets artists and creators add voice commentary to their own playlists. The Stories feature merges podcasts with music playlists, and is meant for artists to add context to an album, or for podcasters to experiment with new storytelling formats. The feature is part of Pandora AMP, the streaming service’s free Artist Marketing Platform that helps creators promote their work. To kick off the launch, Pandora’s prepared some Stories by artists like John Legend and Daddy Yankee, who tell listeners their personal stories interspersed between their own songs. There’s also a Stories playlist called Love Songs That Aren’t Really Love Songs , which includes commentary on individual songs like a podcast... Continue reading… from The Verge - All Posts https://ift.tt/2Xz1oNc
Post a Comment
Read more

Instagram’s updated algorithm prioritizes original content instead of rip-offs

Image: Kristen Radtke / The Verge Instagram is making significant changes to how its system recommends content, with a focus on original content and increased distribution for smaller accounts. The slew of changes were announced by the company in a blog post today. The biggest change deals with aggregators — accounts that download or screenshot other users’ videos and photos and repost them. Sometimes aggregators will credit the original poster by tagging them in the post or caption, but often, content is wholesale ripped off with no acknowledgment, and engagement is siphoned off from the person who created the content in the first place. Instagram clearly has a problem with this and will begin removing reposted content from recommendations across the platform. The... Continue reading… from The Verge - All Posts https://ift.tt/ECgcPAU
Post a Comment
Read more

We asked camera companies why their RAW formats are all different and confusing

When you set up a new camera, or even go to take a picture on some smartphones, you’re presented with a key choice: JPG or RAW? JPGs are ready to post just about anywhere, while RAWs yield an unfinished file filled with extra data that allows for much richer post-processing. That option for a RAW file (and even the generic name, RAW) has been standardized across the camera industry — but despite that, the camera world has never actually settled on one standardized RAW format. Most cameras capture RAW files in proprietary formats, like Canon’s CR3, Nikon’s NEF, and Sony’s ARW. The result is a world of compatibility issues. Photo editing software needs to specifically support not just each manufacturer’s file type but also make changes for each new camera that shoots it. That creates pain for app developers and early camera adopters who want to know that their preferred software will just work. Adobe tried to solve this problem years ago with a universal RAW form...
Post a Comment
Read more