Electronic Arts agreed on Sep 28, 2025 to be acquired at $210 a share, an enterprise value of about $55 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Electronic Arts agreed on Sep 28, 2025 to be bought by a consortium of PIF, Silver Lake and Affinity Partners for $210 a share in cash. The company's press release puts its enterprise value, meaning its shares plus its debt, less its cash, at about $55 billion. The price is a 25% premium to the $168.32 share price on Sep 25, 2025, the last trading day the company calls unaffected by the deal. PIF already holds 9.9% of the company and will roll that stake over.1^,2^,3^,4^,5^,6

Electronic Arts publishes Apex Legends, Battlefield 6, The Sims 4 and EA Sports FC 26, among other games. Respawn Entertainment develops Apex Legends and Star Wars Jedi: Survivor, and BioWare develops Dragon Age: The Veilguard and Mass Effect Legendary Edition. Battlefield 6 comes from Criterion Games, EA DICE, Motive Studio and Ripple Effect Studios. The release says the company stays headquartered in Redwood City, California, with Andrew Wilson still chief executive. Wilson said in the release that the company will keep pushing the boundaries of entertainment, sports and technology with its partners.7^,8^,9^,10^,11^,12

Electronic Arts told the SEC in a Form 8-K, the filing US-listed companies use to disclose major events, under item 1.01, which covers entry into a material agreement. The buyers plan about $36 billion of equity, and JPMorgan Chase committed $20 billion of debt, of which $18 billion was expected to be drawn at closing. Among the conditions to closing are adoption of the merger agreement by holders of a majority of the voting power, the end of a waiting period under US antitrust law and other regulatory approvals, including from the Committee on Foreign Investment in the United States; the deal does not depend on financing. The company would owe the buyer a $1 billion termination fee in set cases, among them a change of recommendation by its board, and the buyer's acquisition vehicle would owe the company $1 billion in set cases, among them when regulatory approvals are still missing at the outside date of Sep 28, 2026, which can be extended.13^,14^,15^,16^,17^,18^,19^,20^,21^,22

Stockholders met on Dec 22, 2025 and adopted the merger agreement, and Electronic Arts reported the vote in an 8-K filed Dec 23, 2025. A later 8-K, filed Aug 4, 2026, reports that the merger took effect and that Electronic Arts became a wholly owned subsidiary of the buyers' acquisition vehicle.23^,24^,25^,26^,27

In our records, the text of this filing is the 8-K and its press release; the merger agreement itself and the voting agreements, which the 8-K lists as exhibits, are not among them.28