EA is now a private company

Electronic Arts has officially become a private company. Last September, EA announced that an investor group led by Saudi Arabia's Public Investment Fund (PIF), Silver Lake, and Affinity Partners would be taking the company private in a $55 billion deal, and on Tuesday, EA said the deal successfully closed. The PIF will reportedly own 93.4 percent of the new company.

The deal includes $20 billion of debt financing - making it the largest leveraged buyout ever - which could mean big changes at EA to justify the deal. As of late, EA has been focusing heavily on its big tentpole franchises, including things like Battlefield, its sports games l …

Read the full story at The Verge.