Why Saudi Arabia bought EA for £55bn

It is worth noting that the deal for PIF to acquire EA is yet to be officially approved by the relevant authorities.

The consortium also includes Silver Lake and the company Affinity Partners, led by Jared Kushner, US President Donald Trump’s son-in-law.

This is not PIF’s first venture in the gaming sector – in fact, it is already heavily involved. As well as previously owning an estimated 9-10% of EA, PIF also purchased companies to secure ownership of the Pokemon Go and Monopoly Go games.

EA has a wide-ranging portfolio of games. It is responsible for creating best-selling titles including Apex Legends, Battlefield, Need for Speed and the Sims.

It is also the makers of EA Sports FC – previously known as Fifa – as well as sports games on the NFL, NBA, UFC and F1.

Its football titles have sold 325 million copies since 1993, while the Sims has sold 200 million and Need for Speed more than 150 million.

“With this deal, it’s not just a seat at the table any more – it’s control,” Osborn said.

“When you’ve got control, you’ve got the ability to really drive the direction of that business towards your goal.

“That’s what the Saudi state is going to be interested in.”

The deal would take EA private, meaning all its public shares will be purchased and it will no longer be traded on a stock exchange.

There have been concerns that the deal would result in $20bn of debt and that the revenues of games would be needed to service this.

The purchase price also put a significant 25% premium on the market value of EA, valuing it at $210 per share.