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. 

Some details about the proposed arrangement surfaced over the weekend. The deal, the largest-ever leveraged buyout, according to Bloomberg, marks the end of EA’s 35-year run as a publicly traded company. “Our creative and passionate teams at…