Electronic Arts has officially transitioned to a private company following an all-cash transaction valued at $55 billion. The acquisition, which includes the Saudi Arabian government’s Public Investment Fund (PIF) alongside investment firms Affinity Partners and Silver Lake, is notable as one of the largest leveraged buyouts on record, with approximately $20 billion funded through borrowed money.
Despite industry observer skepticism regarding potential changes to content or studio operations, EA leadership conveyed in a recent internal memo that the company expects to "maintain creative control" under its new ownership. The consortium has reportedly expressed commitment to investing in EA's workforce and culture. The full implications of this significant financial maneuver are expected to become clearer in the coming months.
Overview of EA Studios and Current Projects
EA's extensive portfolio includes over 20 development studios. Among these, BioWare, acquired in 2008, is known for RPGs like Star Wars: Knights of the Old Republic, Mass Effect, and Dragon Age. The studio recently released Dragon Age: The Veilguard in 2024 and is currently focused exclusively on the Mass Effect series.
Codemasters, a UK-based studio acquired in 2021, is renowned for its racing franchises such as Dirt, Grid, and F1. Their latest title, F1 25, released last year, is slated for a major update this year, with F1 27 currently in development.
Criterion, acquired in 2004, is celebrated for the Burnout and Need for Speed series. While the Need for Speed franchise is currently dormant, Criterion has been lending support to the Battlefield series since 2023. DICE, the Stockholm-based developer behind Battlefield and Star Wars: Battlefront, joined EA in 2006. Their recent title, Battlefield 6, achieved substantial commercial success, selling 20 million copies shortly after its launch. The studio's current efforts are dedicated to the Battlefield franchise.
EA Capital Games, a mobile studio acquired in 2011, was behind Lord of the Rings: Heroes of Middle-earth and the enduringly successful Star Wars: Galaxy of Heroes. Firemonkeys, an Australian mobile studio acquired in 2012, has developed titles including The Sims Mobile and Need for Speed: Most Wanted, and continues to support The Sims FreePlay. 
Frostbite Labs, an offshoot of the 2006 DICE acquisition, functions as a dedicated research division focused on the Frostbite game engine, alongside VR experiences and advancements in machine learning. Many of EA's major franchises, including recent titles like EA Sports College Football 27 and Battlefield 6, utilize the Frostbite engine.
Full Circle, established by EA in 2021, was formed with the objective of revitalizing the Skate franchise. The online-only, free-to-play title skate., launched last year with microtransactions and remains in early access with ongoing development. EA Korea Studio, acquired in 2008, manages live-service support for FC Online in select Asian markets.
Maxis, acquired in 1997, is known for simulation games such as SimCity and The Sims series. The studio is currently developing new content for The Sims 4 and is working on Project Rene, described as the next generation of The Sims.
