Jared Kushner brokered the $55bn takeover of Electronic Arts
Digest more
Saudi Arabia’s acquisition of EA could make gaming one of its most influential tools for cultural and soft power.
Jared Kushner’s private equity firm and Saudi Arabia’s sovereign wealth fund are some of the investors teaming up to take the video game giant private.
Plus, Scott Bessent’s phone reveals fault lines in MAGA world, Elon Musk shows up in the Epstein files and more — all in this week’s Tuesday Tech Drop.
Video game firm Electronic Arts is set to be acquired for about $55 billion in an agreement involving Saudi Arabia's Public Investment Fund, a private equity group and an investment firm founded by Jared Kushner,
Durban, 52 years old, was part of a new generation of leaders at Silver Lake who took the helm in 2011. He and Greg Mondre assumed the title of co-CEOs in 2019, with Durban working out of the firm’s Menlo Park, Calif., office and Mondre based in New York.
Shares of Electronic Arts (NASDAQ:EA) surged nearly 15% on Friday to post their best day since early February 2019. The advance came after the Wall Street Journal reported that a group of investors was looking to take the video game publisher private in what would be the largest leveraged buyout in history.
Electronic Arts, the maker of video games like “Madden NFL,” “Battlefield,” and “The Sims,” is being acquired by an investor group in the largest private equity-funded buyout in history.