M&A Deal Summary

Affinity Partners, Silver Lake and PIF Acquire Electronic Arts

On September 29, 2025, private equity firm Affinity Partners, private equity firm Silver Lake and PIF acquired digital media company Electronic Arts for 55.0B USD

Acquisition Highlights
  • This is Affinity Partners’ 1st, Silver Lake’s 2nd and PIF’s 1st transaction in the Digital Media sector.
  • This is Affinity Partners’ , Silver Lake’s and PIF’s largest (disclosed) transaction.
  • This is Affinity Partners’ 1st, Silver Lake’s 96th and PIF’s 1st transaction in the United States.
  • This is Affinity Partners’ 1st, Silver Lake’s 37th and PIF’s 1st transaction in California.

M&A Deal Summary

Date 2025-09-29
Target Electronic Arts
Sector Digital Media
Buyer(s) Affinity Partners
Silver Lake
PIF
Deal Type Going Private
Deal Value 55.0B USD
Advisor(s) Goldman Sachs (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Electronic Arts

Redwood City, California, United States
Electronic Arts' corporate headquarters in Redwood City, California.
Electronic Arts' corporate headquarters in Redwood City, California.
Electronic Arts is a producer of video games. Electronic Arts develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. Electronic Arts was founded in 1982 and is based in Redwood City, California.

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Buyer(S) 3

Buyer

Affinity Partners


Category Private Equity Firm
Founded 2021
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Affinity Partners is a global investment firm focused on partnering with companies at all stages of development. The Firm does not have any stated sector interests, but has a preference for tech-enabled services, software, and IT companies. Affinity Partners was formed in 2021 and is based in Sunny Isles Beach, Florida.


DEAL STATS #
Overall 1 of 1
Sector: Digital Media M&A 1 of 1
Type: Going Private M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
Buyer

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 136 of 136
Sector: Digital Media M&A 2 of 2
Type: Going Private M&A Deals 17 of 17
State: California M&A 37 of 37
Country: United States M&A 96 of 96
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-10 Klarna

Stockholm, Sweden

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe with the ambition to make e-commerce safer, simpler and more fun. At the core of Klarna's services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna was founded in 2005 and is based in Stockholm, Sweden.

Sell -
Buyer

PIF

Riyadh, Saudi Arabia

Category Company
Founded 1971
Sector Financial Services
DESCRIPTION

PIF is the sovereign wealth fund of Saudi Arabia. The Fund has contributed to the establishment of numerous Saudi Arabian companies, supporting innovation, diversification and non-oil sector development in the Kingdom. PIF was founded in 1971 and is based in Riyadh, Saudi Arabia.


DEAL STATS #
Overall 3 of 3
Sector: Digital Media M&A 1 of 1
Type: Going Private M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-04 Rocco Forte Hotels

London, United Kingdom

Rocco Forte Hotels is an international group of 10 high-end hotels and a luxury resort. The hotels are all located in some of the most visited cities in Italy, Germany, Belgium, and Russia. Rocco Forte Hotels was founded in 1996 and is based in London, United Kingdom.

Buy -