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Electronic Arts (EA) investor relations material
Electronic Arts Proxy Filing summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
A special meeting is scheduled for December 22, 2025, to vote on a proposed merger where shareholders will receive $210.00 per share in cash, with the company becoming a wholly owned subsidiary of an investor consortium led by PIF, Silver Lake, and Affinity Partners.
The board unanimously recommends approval, citing a significant premium over recent trading prices, certainty of value, and a fully negotiated, all-cash offer with committed financing and no financing condition.
If the merger is not approved, the company will remain independent, and shares will continue to trade on Nasdaq; under certain circumstances, termination fees may apply.
Voting matters and shareholder proposals
Shareholders will vote on: (1) adoption of the merger agreement, (2) advisory approval of executive compensation related to the merger, and (3) adjournment of the meeting if more votes are needed.
Approval of the merger requires a majority of outstanding shares; the other proposals require a majority of shares present and voting.
PIF (9.9% owner) and certain directors and officers (<1% collectively) have agreed to vote in favor of the merger.
Board of directors and corporate governance
The board conducted a thorough review, received a fairness opinion from Goldman Sachs, and considered strategic alternatives before recommending the merger.
The board’s decision factored in the premium, certainty, and likelihood of closing, as well as the lack of superior alternative offers.
Post-merger, the board of the surviving corporation will consist of the directors of Merger Sub.
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Frequently asked questions
Electronic Art
Electronic Arts Inc., more commonly referred to simply as EA, is an American video game company. EA produces and publishes games worldwide. In its portfolio, the company has several popular franchises, including video game series such as Battlefield, Mass Effect, Need for Speed, and several others. The company also owns several leading development studios such as Dice and Bioware. The company is headquartered in Redwood City, California, and has several regional offices spread out across the world. The company’s shares are listed on the Nasdaq.
Early Days
EA was founded in 1982, by former Apple employee Trip Hawkins. EA quickly gained market share through titles such as "John Madden Football" and "The Sims," which went on to become hugely successful franchises still active to this day. As the company evolved it continued to grow both by releasing titles that were well received by audiences, as well as by making acquisitions of skill, it became one of the major players in the video game industry and is today one of the leading forces in the sector together with names such as Activision Blizzard (acquired by Microsoft in 2023), Take-Two Interactive, and Nintendo.
Development
The company's development strategy includes both the creation of original titles and the continuous release of games within long-standing franchises. EA's approach to game development involves a mix of supporting in-house teams and the acquisitions of external studios, allowing for a diverse range of video games across various genres to be developed. One example of the various types of games across genres that the company has been responsible for is various first-person shooters through games like Battlefield, story-driven RPGs like Dragon Age and Mass Effect, and a host of various sports games under the EA Sports division of the company.
Publishing
Electronic Arts (EA) is not only a major developer but also a key publisher in the video game industry. As a publisher, EA is responsible for financing, marketing, and distributing video games globally. This is done both through retail locations and with an ever-increasing focus on online sales channels. One way that the company gets its games into the hands of customers is through its online platform Origin, where users can access all of EA’s titles through a digital library.
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