Electronic Arts (EA) announced on Tuesday that it will retain full control of its projects if the acquisition of the company proceeds. A collaboration between the Saudi Arabian Public Investment Fund and private equity groups oversees the acquisition of the publisher.
EA said in an updated Frequently Asked Questions document for its employees that its track record of creative freedom and player-first values will remain intact. The firm will also maintain the EA headquarters in Redwood City, California.
Electronic Arts pledges to retain its commitment to players and fans
According to the document, EA said its mission, values, and commitment to players and fans globally remain unchanged. The gaming company also promised to continue to be guided by its cultural values of creativity, pioneering, passion, determination, learning, and teamwork.
The gaming company revealed in its new FAQ that it remains in a strong financial position despite its $20 billion debt. EA also promised to maintain a thoughtful approach to artificial intelligence, following the new partners’ hints at utilizing AI.
The company’s CEO, Andrew Wilson, said at the firm’s Investor Day 2024 that AI is the very core of EA’s business. He added that one area of AI innovation for the company is efficiency. Wilson argued that AI will help in cost savings and also enable the company to work faster, cheaper, and at a higher quality.
Electronic Arts said the consortium believes in its vision, leadership, and strength of its Teams. The firm argued that the new owners are investing in EA because they believe it’s uniquely positioned to lead the future of entertainment. The gaming company also revealed that Saudi Arabia’s Public Investment Fund has been a significant shareholder in EA and the broader gaming industry for many years.
Electronic Arts confirmed that its chairman and CEO, Wilson, will maintain his position in the company. Wilson acknowledged that the firm will continue to push the boundaries of entertainment, sports, and technology, and also continue unlocking new opportunities.
Wilson said that Electronic Arts will collaborate with its partners to create transformative experiences to inspire generations to come. He also said he is more energized than ever about the future the company is building.
The FAQ highlighted that the Battlefield maker’s mission is to inspire the world to pay and build for global communities of players and fans. EA also promised to remain committed to its players and fans globally. The decision from EA follows the recent concerns surrounding the deal.
Electronic Arts acquisition raises concerns
The Communications Workers of America and the company’s employees warned against the deal earlier last month, arguing that they were not represented in the negotiations. However, the Financial Times reported that the $55 billion deal is expected to go ahead smoothly due to the influence of some of the investors involved.
The acquisition includes investments from Affinity Partners, the firm of President Donald Trump’s son-in-law, Jared Kushner. FT suggested that the deal won’t face any opposition until its completion in Q1 FY27 due to Saudi Arabia being a key ally to the U.S., as well as the involvement of Kushner.
The acquisition has been controversial due to the involvement of Saudi Arabia’s Prince Mohammed bin Salman, chairing the country’s PIF fund. The CIA has blamed him for the assassination of Washington Post journalist Jamal Khashoggi and for maintaining a poor human rights record in the country.
Claim your free seat in an exclusive crypto trading community – limited to 1,000 members.
Source: https://www.cryptopolitan.com/electronic-arts-ea-to-retaincontrol/
