A report from The Wall Street Journal indicates that Electronic Arts, the video game giant, is close to being acquired for $50 billion by a consortium of investors, which includes Silver Lake and Saudi Arabia’s Public Investment Fund.
EA is most recognized for its yearly sports game releases such as Madden NFL, FIFA, and NBA Live, along with popular franchises like The Sims, Battlefield, Need for Speed, and Star Wars.
The Journal notes that this transaction could set a record as the biggest leveraged buyout ever, with the majority of the purchase financed through borrowing.
Following the announcement that EA might transition to a private company, its shares surged by 15% on Friday afternoon.
