The $55 billion acquisition of Electronic Arts is set to close on August 4 following approval from all required regulatory bodies.
In a SEC form filed yesterday, EA added that “completion of the merger remains subject to the satisfaction or waiver of the remaining customary closing conditions set forth in the merger agreement.”
The EU Commission also cleared the merger earlier this week. It concluded that the transaction “would not raise competition concerns, given its limited impact on competition in the markets where the companies are active. The notified transaction was examined under the normal merger review procedure.”
In an amended annual report filed on July 28, EA provided an evaluation of its achievements following its full-year results. Net income soared 81.5% to $461 million while net revenue increased 12% to $2.1 billion.
The company attributed much of this success to Battlefield 6, which met “all milestones for a high-quality launch” and received “positive critical reviews, stable services, and gameplay.”
Despite these results, in March, an unspecified number of employees were laid off from four studios involved with the game.
“We’ve made select changes within our Battlefield organisation to better align our teams around what matters most to our community,” the company said in a statement to GamesIndustry.biz.
“Battlefield remains one of our biggest priorities, and we’re continuing to invest in the franchise, guided by player feedback and insights from Battlefield Labs.”
Last September, a consortium of investors, comprising Saudi Arabia’s Public Investment Fund (PIF), Silver Lake Capital, and Affinity Partners, announced its plan to buy EA in a $55 billion deal.
In December, EA shareholders backed the acquisition. Once the deal closes, the PIF will allegedly own over 93.4% of EA.
US lawmakers previously asked the Federal Trade Commission to “thoroughly” review the deal, warning that it could negatively impact workers.