industry

EA takeover closes; $55bn PIF and Jared Kushner buyout prompts mass layoffs

The months-long, $55 billion acquisition of Electronic Arts by Saudi Arabia’s Public Investment Fund and Jared Kushner closed late last night. The takeover transfers control of EA to the PIF and Kushner and removes the company from public markets. The deal is expected to trigger mass layoffs across EA.

• The $55 billion purchase of Electronic Arts by the Saudi Public Investment Fund and Jared Kushner closed late last night after a months-long process.
• Control of EA now transfers to the PIF and Jared Kushner, ending EA’s status as an independent publicly traded company.
• Company-wide mass layoffs at Electronic Arts are expected as a direct consequence of the takeover.