Saudi Arabia’s Public Investment Fund (PIF) continues its gaming expansion. In its latest move, it has increased its stake in Electronic Arts by 55%.

Saudi Arabia increases its stake in Electronic Arts by 55%

According to a recent SEC filing (spotted by Seeking Alpha), Saudi Arabia’s sovereign wealth fund acquired 8.8 million shares of Electronic Arts for an undisclosed sum earlier this year.

As of now, the PIF owns 24.81 million shares (compared to 16.01 million shares in the fourth quarter of 2022) worth $2.98 billion.

Brief history of the PIF's investment in EA

The PIF, as well as its games industry-focused subsidiary Savvy Games Group, has been investing heavily in video game companies across the globe. In addition to Electronic Arts, it owns stakes in publishers like Take-Two, Activision Blizzard, Nintendo, Capcom, Nexon, and NCSoft.

Last year, Savvy Games Group also invested $1 billion in Embracer Group, acquiring 8.1% of its shares and becoming the second-largest stakeholder in the Swedish holding company.

Saudi Arabia currently plans to invest $38 billion in the games industry as part of its global expansion. Out of this sum, $13 billion will be allocated to M&A deals and $18 billion to minority acquisitions.

Last month, Savvy Games Group announced a $4.9 billion acquisition of Scopely, a mobile developer and publisher best known for Marvel Strike Force and Star Trek Fleet Command.

Got a story you'd like to share? Reach us at [email protected]