Electronic Arts (EA) is now privately owned following the closure of a $55 billion buyout on Tuesday. The deal, announced last September, received regulatory approval and shareholder backing, allowing the acquisition to proceed after some delays.

Saudi Arabia's Public Investment Fund now holds over 93 percent of EA. Private equity firms Silver Lake and Affinity Partners are also part of the new ownership. Current CEO Andrew Wilson will continue to lead EA, which remains based in Redwood City, California.

This takeover marks the largest leveraged buyout in history, with the buyers utilizing $20 billion in debt financing. EA will be responsible for repaying this debt over time. For its most recent fiscal quarter ending June 30, EA reported a profit of $387 million after expenses and taxes. CEO Andrew Wilson affirmed the company's dedication to creating exceptional games and fostering a strong creative culture.