Electronic Arts’ $55B buyout has officially completed – and the company is already plotting layoffs
Electronic Arts has officially been acquired for $55 billion by a consortium of investment firms, primarily Saudi Arabia’s Public Investment Fund, making it a private entity. The deal, which carries $18 billion in debt, is expected to lead to significant cost-cutting measures, including mass layoffs, with reports indicating $700 million in annual savings are planned.
- Entities
- Company: Electronic Arts
- Person: Joshua Kushner
- Company: Affinity Partners
- Topic: Layoffs
- Company: Silver Lake
- Topic: Mergers and Acquisitions
- Person: Jason Schreier
- Person: Shams Jorjani
- Company: Public Investment Fund
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