Saudi Arabia’s PIF reportedly contemplating to mix EA with Savvy Games Group

Saudi Arabia’s Public Investment Fund (PIF) is reportedly planning to mix Electronic Arts with its subsidiary, Savvy Games Group.

Sources advised Bloomberg that the PIF is contemplating the merger to “ensure better coordination between its assets.” Savvy Games’ present portfolio contains Scopely, ESL Gaming, FaceIt, and a $1 billion stake in Embracer Group.

Savvy additionally holds stakes in Nintendo, Capcom and Nexon, Take-Two Interactive, Activision Blizzard, and Koei Tecmo.

Savvy is presently buying the Chinese cellular video games firm Moonton for $6 billion, a deal introduced in March. Sources indicated that merging EA into Savvy is unlikely till this acquisition is full.

Both the PIF and EA declined to remark to Bloomberg, whereas a spokesperson for Savvy didn’t reply to requests for remark.

The PIF led the $55 billion leveraged buyout of EA, accomplished final month, making it the developer’s majority proprietor.

The acquisition of EA was introduced final September, led by a group of traders together with PIF, Silver Lake, and Affinity Partners.

In a letter to workers, EA mentioned that its “mission, values, and commitment to players and fans around the world would remain unchanged.”

“EA will maintain creative control, and our track record of creative freedom and player-first values will remain intact,” it mentioned.

“The Consortium believes in our vision, our leadership and our focus on creating games, stories, and content that reflect a range of experiences and delivering them to our global player community. They’re investing in the creativity that defines EA.”

Last week, Brian Ward stepped down as CEO of Savvy Games. Turqi Alnowaiser, deputy governor of the PIF and head of its International Investments Division, was appointed interim CEO.

“As Savvy embarks on its next period of transformational growth, this is the right time for new leadership for that evolution,” Ward wrote in a word to workers.

Ward served as CEO of Savvy Games since its institution in 2021 and oversaw a $37.8 billion funding to broaden Saudi Arabia’s presence within the international video games business.