Electronic Arts (EA), one of the biggest gaming companies in the world, has agreed a deal to sell the company for $55bn (£41bn).
The consortium of buyers include Saudi Arabia's Public Investment Fund (PIF), Silver Lake and Jared Kushner's Affinity Partners.
EA is known for making and publishing best-selling games such as EA FC, formerly known as Fifa, The Sims and Mass Effect.
It is understood to be the largest leveraged buyout in history - where a significant amount of the purchase is financed by borrowing money.
The deal will take EA private - meaning all of its public shares will be purchased and it will no longer be traded on a stock exchange.
The purchase price puts a significant 25% premium on the market value of EA, valuing it at $210 per share.
It is the second most valuable gaming purchase in history, following Microsoft's $69bn deal to buy Call of Duty publisher Activision Blizzard - which went through after significant battles with global regulators, with the UK concerned it may damage competition.
The EA boss Andrew Wilson, who will remain in post, said it was a powerful recognition of the firm's work.
The firms buying EA will contribute approximately $36bn, with the remaining amount being financed by loans.
EA has been open to a potential buyer to help level up for a while, industry expert Christopher Dring told the BBC.
But an acquisition from private equity is a surprise and there's a lot of industry anxiety around this deal.
He said there were concerns that the deal would result in $20bn of debt - which would need to be paid back.
The revenue generated by big games like EA Sports FC, Madden and Battlefield 6 will be needed to service this debt, which may impact EA's ability to invest in new games, he said.
Saudi Arabia extends gaming reach
In that time, EA has been responsible for some of the biggest game series in history. Its football titles, now known as EA FC, have sold 325 million copies since the first release in 1993.
The purchase will be a big gaming feather in the cap of Saudi Arabia, which has been increasing its presence in the industry in recent years.
Saudi Arabia has made waves in the eSports industry, hosting major tournaments including the eSports World Cup, and it will also host 2027's planned Olympic esports Games.
However, the acquisition has raised eyebrows about the implications of Saudi influence in the gaming sector, especially considering the human rights issues associated with the country's governance.