Money and business
A coalition led by the Public Investment Fund captures “Electronics Arts” with $ 55 billion
A company announced "Electronic Arts" (Electronic Arts) signing an agreement to acquire it from both the Public Investment Fund and the company "Silver Lake"And"Affiniti Partners" In a fully cash deal with an institutional value estimated at about $ 55 billion. The company. [36] Almost one billion dollars, and the debt financing is worth [20] One billion dollars. New.
The completion of the deal. "The Public Investment Fund is characterized by its pioneering position in the game and electronic sports sector worldwide, by building integrated systems and supporting them in a way that enhances the interdependence between players, games developers and intellectual property rights owners"
added: "The fund confirms its close commitment to developing and developing this sector, and this partnership will contribute to enhancing the growth of the growth of Electronic Arts in the long term, in addition to stimulating innovation in the electronic games industry globally. Electronic sports. "Savy Electronic Games Group"One of the largest companies in the world in the field of games and electronic sports, supporting the growth of the games and investments sector, and providing more unique opportunities in the local economy. The video in the Kingdom is about $ 1.19 billion in 2024, with expectations that it will reach 1.64 billion dollars by 2028, with an annual growth rate of 8.2%, thus leading the sector’s growth scene in the Middle East and North Africa region. The largest games market in the world (after China), every job opportunity in the electronic games sector contributes to providing 2.36 other job opportunities in the national economy. "Take Two Interactive" and" Nintendo"and"Square Enix". />
The fund contributes to consolidating the Kingdom’s position as a global center for electronic sports events by organizing the most important competitions at the sector level, such as the World Cup for Electronic Sports in Riyadh. - For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
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