M&A · Tech · Services-Prepackaged Software
PIF, Silver Lake and Affinity Partners to acquire Electronic Arts Inc.
Announced Sep 29, 2025 · Closed Aug 4, 2026
Deal value$55.00BEV $55.00B
Premium25.0%To unaffected price
EV / Adj. EBITDA22.1x7.4x EV / Revenue
ConsiderationAll cash$210.00 per share
Transaction
- Acquirer
- PIF, Silver Lake and Affinity Partners
- Target
- Electronic Arts Inc. (EA)
- Buyer type
- Private equity
- Offer price per share
- $210.00
- Enterprise value
- $55.00B
- Status
- Closed Aug 4, 2026
Deal protections
- Break fee (target pays)
- $1.00B · 1.8%
- Reverse fee (buyer pays)
- $1.00B · 1.8%
- Go-shop
- —
- Financing
- Committed · JPMorgan
Advisors
- To the acquirer
- Not disclosed
- To the target
- Goldman Sachs
Sector context · Tech
- Comparable deals
- 65 in the prior 24 months
- Premium
- 25.0% vs. 37.0% sector median
- EV / Adj. EBITDA
- 22.1x vs. 16.3x sector median
- Break fee
- 1.8% vs. 3.0% sector median
Timeline
- AnnouncedSep 29, 2025
- Proxy filedNov 10, 2025
- Definitive proxyNov 20, 2025
- Shareholder voteDec 22, 2025
- ClosedAug 4, 2026
Valuation · fairness opinions
Other analysis$137.00$220.00
Future share price$157.00$236.00
Premiums paid$203.00$255.00
52-week trading range$163.00$218.00
Offer $210.00
Implied value per Electronic Arts Inc. share by analysis, from Goldman Sachs · DCF discount rate 7.5%–9.5%.