$55 Billion Deal: Saudi PIF Gets EU Approval for Electronic Arts Takeover

The Saudi Public Investment Fund (PIF) has cleared another hurdle in its proposed acquisition of Electronic Arts, securing European Commission approval for the record-breaking takeover. The deal, valued at $55 billion, will see PIF acquire sole control of California-based Electronic Arts, which owns popular video game franchises such as EA Sports FC and Battlefield.

The European Commission found little to trouble it from a competition perspective, determining that the transaction would not raise concerns due to limited market overlap. The clearance comes after a Phase I review under the EU Merger Regulation, with the Commission set to examine the deal further under the EU's Foreign Subsidies Regulation (FSR).

The acquisition is part of Saudi Arabia's push to become a major force in gaming and digital entertainment as it seeks to diversify its economy beyond oil. PIF has already spent billions acquiring developers, esports businesses, and stakes in publishers including Nintendo and Take-Two Interactive.