As expected, Electronic Arts has become a privately held company for the first time since 1990.

The American company has just finalized its $55 billion acquisition by the Saudi Arabian Public Investment Fund, Silver Lake, and Affinity Partners. It should be noted that this acquisition is being financed through significant debt. As a result, the company’s debt has increased by $20 billion.

EA CEO Andrew Wilson has addressed his teams and the media with a press release.

"This moment recognizes the extraordinary people whose creativity, ambition and passion have made EA one of the world’s leading interactive entertainment companies.

We’re entering this next chapter from a position of strength with partners who share our vision and ambition. Together, we’ll invest boldly, accelerate innovation, and build the next generation of games and experiences for the hundreds of millions of players and fans who inspire us every day."

Turqi Alnowaiser, Deputy Governor and Head of International Investments at PIF, also spoke.

"Having been a minority investor in the company for more than five years, we have a deep understanding of EA’s unique platform, massive global sports and gaming franchises, and iconic IP.

Entertainment and sports are key areas of strategic focus for PIF, and are among the fastest growing and evolving sectors around the world. Together, the Consortium is uniquely positioned to be a long-term partner to EA’s management team in driving sustained growth and innovation for EA and the industry."