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Saudi Wealth Fund Weighs EA-Savvy Merger, Bloomberg News Reports
The plan could combine console and mobile game assets under one owner, but no decision is final and regulators may still scrutinize the move.
- On Thursday, Bloomberg News reported that the Saudi Arabia Public Investment Fund is weighing a merger of Electronic Arts with Savvy Games Group, consolidating the kingdom's gaming assets.
- The fund acquired Electronic Arts last month for roughly $55 billion, aiming to combine the publisher's console strength with Savvy's mobile portfolio including Monopoly Go!.
- Savvy CEO Brian Ward stepped down last week, replaced on an interim basis by Turqi Alnowaiser, a PIF deputy governor who fronted the Electronic Arts negotiations.
- Any merger remains on hold until Savvy completes its $6 billion acquisition of Moonton, as the fund seeks to finalize its current investment roadmap.
- Regulators could subject the combination to antitrust scrutiny, with Microsoft's $69 billion acquisition of Activision Blizzard serving as a precedent for examining large gaming-sector transactions.
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The merger of the two companies controlled by the PIF would create a new industry giant, which could therefore also alert competitors.
·Düsseldorf, Germany
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The Saudi investment fund PIF is exploring the possibility of merging Electronic Arts Inc. (EA) and Savavy Games, reporting to Bloomberg with reference to sources.
Saudi wealth fund weighs EA-Savvy merger, Bloomberg News reports
·London, United Kingdom
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Saudi Arabia weighs merging EA with Savvy into one gaming giant
Saudi Arabia’s Public Investment Fund is weighing a merger of Electronic Arts with Savvy Games, which would put Madden NFL and Pokemon Go under one roof. Brussels cleared the EA takeover on competition and foreign subsidy grounds six weeks ago, and combining two companies the same owner already controls may not require a European filing […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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Total News Sources21
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
Factuality
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