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EA confirms it will go private in $55 billion acquisition
Beleaguered video game giant Electronic Arts has agreed to a $55 billion acquisition that will take the company private.
Saudi Arabia Public Investment Fund (PIF), Silver Lake and Affinity Partners have reached a deal to buy EA, the company said in a statement. This year, the company has canceled an upcoming Black Panther game and closed the studio behind it, and has reportedly " shelved" its Need For Speed Franchise. In a statement Silver Lake Co-CEO Egon Durban said that the group plans to "invest heavily" in the video game company and help it "expand its reach worldwide."
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