The heir of Saudi Arabia invests more than 3 billion dollars in EA, Take Two and Activision

Prince Mohammed bin Salman already bought a third of SNK’s stakes weeks ago.

Companies in various fields are preparing their next fiscal years, and that is why in recent weeks there have been many very interesting financial movements. Even settings generally removed from interactive entertainment are joining the party. Now, we have been able to know that the Saudi Public Investment Fund of Saudi Arabia It has acquired a small stake in several of the largest companies in the video game industry.

The investment group is owned by Mohammed bin Salman, the heir to the throne in the Saudi country, who seems especially interested in digital entertainment, since a few months ago he bought a third of the shares of SNK, a firm of which they intend to be majority shareholders. Now, he has wanted to increase his business with three of the largest companies in the industry in the West. Let’s break down the operation.

The Saudi fund has invested more than $ 3 billion in purchasesPIF, the Saudi fund, has taken 3.5% of Activision-Blizzard for a sum of 1,600 million dollars. It has also acquired 2.6% of Electronic Arts for a sum of 1,000 million dollars and a 3.5 of Take-Two Interactive for a total of $ 825 million. Now, the heir of that country has stakes in the companies responsible for games such as Call of Duty, FIFA or GTA among others.

All of this has a clear goal for Saudi Arabia and its next heir is already looking to the future. A movement that is part of the strategy called Saudi Vision 2030, a program with which they intend not to depend so much on oil, the main source of wealth and income in the Arab country, with the aim of boosting other economies such as tourism or technology industries, among which are video games that, as you know , is one of the most lucrative entertainment media.

The steps of other giants

Due to the growth of the sector, more and more mutual funds and conglomerates want their share of the pie, and there are several firms that we are listening to lately. On a checkbook, the Chinese company Tencent also has stakes in numerous powerful companies in the sector, including the majority stake in Riot Games. In recent weeks, it is Embracer Group that is taking the checkbook to take over studios and publishers under its shelter.

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By Game1

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