Electronic Arts shareholders approve US$55 billion sale to Saudis
ELECTRONICS Arts shareholders approved the US$55 billion sale of the company, a leading video-game publisher, in a deal led by Saudi Arabia’s Public Investment Fund.
Investors in the Redwood City, California-based gaming giant, the publisher of games such as EA SPORTS FC and Battlefield, approved the US$210-a-share takeover in a vote on Monday.
The buyout marks a turning point for the 40-year-old EA.
Saudi Arabia’s PIF is making splashy investments in the interactive media sector to diversify away from oil. Taking EA private will allow developers to focus on making good games without pressure from public investors to meet quarterly targets. BLOOMBERG
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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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