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%.
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
- In the fourth quarter of 2020, the PIF bought 7.4 million EA shares worth $1.1 billion.
- In 2021, the fund purchased an additional 6.8 million shares, bringing its total stake to around 5%.
- According to Axios, it increased its stake in the FIFA publisher to 5.8% earlier this year.
- Given the number of shares recently purchased by the PIF, it currently owns roughly 9% of Electronic Arts.
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.