Photo: Fayez Nureldine / AFPSource: AFPVideo game giant Electronic Arts, known for The Sims and FIFA games, announced Monday it would be acquired for $55 billion by a consortium led by Saudi Arabia's Public Investment Fund. EA, known for popular franchises including FIFA soccer games, Madden NFL, The Sims and Battlefield, reported revenue of $7.5 billion in its most recent fiscal year. FIFA was updated annually from 1993 to 2023, before Electronic Arts lost the license following a financial disagreement between EA and the FIFA organization. The deal will be financed through approximately $36 billion in equity from the consortium members and $20 billion in debt committed by JPMorgan Chase. The agreement marks PIF's latest major investment in the gaming sector as Saudi Arabia seeks to diversify its economy beyond oil revenues.