Kirkland & Ellis LLP, Sidley Austin LLP, Gibson Dunn & Crutcher, Latham & Watkins, Simpson Thacher & Bartlett LLP, along with Wachtell, Lipton, Rosen & Katz advised on the acquisition of Electronic Arts Inc. (EA) by an investor consortium.

The transaction represents the largest take-private investment in history.

Under the terms of the agreement, the consortium will acquire 100% of EA, with PIF rolling over its existing 9.9% stake in the company. EA stockholders will receive $210 per share in cash. PIF, Silver Lake, and Affinity Partners bring deep sector experience, committed capital, and global portfolio with networks across gaming, entertainment, and sports that offer unique possibilities for EA to blend physical and digital experiences, enhance fan engagement and create new revenue streams. The deal was announced on September 29, 2025 and is expected to close in Q1 FY27 subject to customary closing conditions, including receipt of required regulatory approvals and approval by EA stockholders.

Kirkland & Ellis advised an investor consortium comprised of PIF, Silver Lake, and Affinity Partners in a definitive agreement to acquire Electronic Arts Inc. (NASDAQ: EA), a global leader in digital interactive entertainment, in an all-cash transaction that values EA at an enterprise value of approximately $55 billion. In addition to representing the investor consortium, Kirkland is also serving as lead legal counsel to PIF.

The Kirkland team included corporate lawyers Maggie Flores, Sarkis Jebejian, Jonathan Davis, Lee Blum, Aseda Ghartey-Tagoe, Kamran Bajwa and Noor Al-Fawzan; debt finance lawyers Adam Shapiro and Conor O’Muiri; capital markets lawyers Josh Korff and Zoey Hitzert; executive compensation lawyers Scott Price and Matt Wood; international trade & national security lawyers Ivan Schlager and Erika Krum; tax lawyers Dean Shulman and Sehj Vather; and antitrust & competition lawyer Stephen Mohr.

Sidley is representing Affinity Partners as part of an investor consortium, along with PIF and Silver Lake, in an all-cash acquisition of Electronic Arts Inc. (NASDAQ: EA) (“EA” or the “Company”), a global leader in digital interactive entertainment, with an enterprise value of approximately US$55 billion.

The Sidley deal team was led by Perry J. Shwachman, Jonathan A. Blackburn, and William R. Levi. The team was also comprised of Jim Mendenhall, Vincent Brophy, Julie Ann Rosenberg Lamm, Conner Collins, Vadim Brusser, Jack Cadden, and Caira Watson Haynes.

Gibson, Dunn & Crutcher LLP provided specialized counsel to PIF, while Latham & Watkins LLP and Simpson Thacher & Bartlett LLP served as legal counsel to Silver Lake. Wachtell, Lipton, Rosen & Katz acted as legal advisor to EA.