Electronic Arts (EA), one of the biggest gaming companies in the world, has agreed to sell the company for USD 55 billion. The consortium of buyers includes Saudi Arabia’s Public Investment Fund (PIF), Silver Lake and Jared Kushner’s Affinity Partners. It is understood to be the largest leveraged buyout in history, wherein a significant amount of the purchase is financed by borrowing money.

EA boss Andrew Wilson, who will remain in post, said it was a “powerful recognition” of the firm’s work. It is a massive purchase of a company which has been synonymous with the gaming industry for more than 40 years. In that time, EA has been responsible for some of the biggest game series in history. Its football titles, now known as EA FC, have sold 325 million copies since the first release in 1993. The Sims has sold more than 200 million copies, and Need For Speed more than 150 million.