There’s only one step left from the EA buyout to be finalized.

Worldwide business press portals have reported that the $55 billion EA buyout deal has been approved by shareholders on Monday, December 22nd. Brought to attention by Bloomberg, the shareholders that had stake in EA stocks while the company was public voted in favor of the buyout deal proposed by Saudi Arabia’s PIF, Jared Kushner’s Affinity Group and Silver Lake.

Electronic Arts Inc. shareholders approved the $55 billion sale of the company, a leading video-game publisher, in a deal led by Saudi Arabia’s Public Investment Fund.

Investors in the Redwood City, California-based gaming giant, the publisher of games such as EA SPORTS FC and Battlefield, approved the $210-a-share takeover in a vote Monday.

The buyout marks a turning point for the 40-year-old EA. Saudi Arabia’s PIF is making splashy investments in the interactive media sector to diversify away from oil. Taking EA private will allow developers to focus on making good games without pressure from public investors to meet quarterly targets.

– Bloomberg

It’s been reported that the Saudi Arabia’s Private Investment Fund will have the biggest stake in the company’s buyout at 93.4%. Silver Lake will have 5.5% ownership while Affinity Group will own 1.1%.

The only step left for the EA Buyout to go through is getting approvement from US government officials. Which could likely happen considering that Donald Trump’s son-in-law Jared Kushner is set to own 1.1% of the company.

Several US senators (and EA employees) have voiced concerns over the EA Buyout deal, stating that there are risks involved in selling sensitive player information and video game franchises to investors that don’t have a good reputation. Some reports state that the Saudi Arabia PIF is running out of money following big investments, such as the EA buyout.

The final results of the EA Buyout deal are expected to be announced in the next six to nine months. In the meantime, some EA employees voiced concerns anonymously what this buyout could mean for the future of their careers at EA. One stating that they’re nervous about potential layoffs happening after the buyout, while another stating “Andrew Wilson basically said ‘f you’ to all women and LGBTQ employees at EA with this deal”.

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