EU approves Public Investment Fund’s $55bn acquisition of Electronic Arts

A European Commission report on Tuesday revealed that the Public Investment Fund, along with a group of investors, has received EU approval for a $55 billion acquisition of Electronic Arts, the video game developer, under the bloc’s financial support regulations.

According to Reuters, Electronic Arts said in a statement on Monday that it had secured all regulatory approvals as of July 30 and expects the deal to close on August 4. The transaction was cleared under EU merger rules last week, but review under the foreign subsidies regulation had been the main hurdle.

This deal marks a major step for the Public Investment Fund as it seeks to position itself as a global hub for gaming and sports, betting on the enduring value of popular games as the industry recovers from a prolonged downturn.

The acquisition also reflects Saudi Arabia’s broader efforts to diversify its economy toward infrastructure, tourism, sports, gaming, and other sectors, providing a key strategic alternative to oil.

The Public Investment Fund has strengthened its position among the world’s largest sovereign wealth funds, recently announcing that its assets had risen to 4.54 trillion riyals (SAR) by the end of 2025, a move that would make it the world’s fourth-largest and the biggest in the Arab world by assets.

Audited consolidated financial statements published by the fund at the end of last month showed total assets up 5% to 4.54 trillion riyals, compared to 4.32 trillion riyals at the end of 2024. Net profit surged to 65.1 billion riyals, up from 25.8 billion riyals the previous year, supported by revenue growth, improved operational performance, and expanded investments both domestically and internationally.