The Companies Behind Your Favourite Video Games

Electronic Arts is now a private company owned by Saudi Arabia's Public Investment Fund. Microsoft has spent more than $80 billion on video game acquisitions since 2014. Tencent owns stakes in more gaming companies than any other entity on the planet. Nintendo launched Switch 2 in June 2025 and remains independent, but Saudi Arabia's PIF is its largest outside investor.

The video game industry generated over $180 billion in global revenue in 2025, surpassing film and music combined. Five companies control the majority of the most-played game franchises. The companies behind your favourite video games are a handful of mega-corporations and sovereign wealth funds.

We tracked the companies behind your favourite video games and mapped every major studio to its corporate parent. For more on the franchises these companies own, see our video game brands and their corporate parents.

EA: Now Private, Saudi-Owned

Electronic Arts announced on August 4, 2026, that its acquisition by PIF, Silver Lake, and Affinity Partners had successfully closed. The consortium's agreement to acquire EA was previously announced on September 29, 2025, and was approved by EA stockholders at a special meeting on December 22, 2025.

EA's ownership consolidates into three parties. PIF holds 93.4 percent. Silver Lake holds 5.5 percent. Affinity Partners, run by Jared Kushner, holds 1.1 percent. EA's common stock has ceased trading and is delisted from NASDAQ.

EA stockholders received $210 in cash for each share of EA common stock. Andrew Wilson remains CEO. EA's headquarters stay in Redwood City, California. The company posted GAAP net revenue of approximately $7.5 billion in fiscal year 2026.

EA's key franchises include EA Sports FC, Madden NFL, Battlefield, Apex Legends, and The Sims. The $55 billion acquisition is the largest leveraged buyout in history. PIF borrowed $20 billion from JPMorgan to close the deal, with the business taking on the debt.

PIF treats EA as a strategic holding in its own right, not just another portfolio line item. The gaming and esports industry is one of PIF's priority sectors, contributing to the diversification of the Saudi economy. For more on PIF's broader strategy, see our video game brands and their corporate parents.

Microsoft: $80B+ in Gaming Acquisitions

Microsoft owns the largest gaming portfolio by acquisition spend. The company has spent more than $80 billion on video game buyouts since 2014. Microsoft makes the top 12 gaming buyouts list three times, more than any other single company.

The acquisitions include Activision Blizzard for $75.4 billion, the largest gaming acquisition in history. ZeniMax Media, parent of Bethesda, for $7.5 billion. Mojang, maker of Minecraft, for $2.5 billion.

Microsoft's gaming portfolio includes Xbox Game Studios, Mojang, Bethesda, id Software, Arkane, MachineGames, Activision, Blizzard, King, Obsidian, Ninja Theory, Double Fine, Playground Games, Compulsion Games, Undead Labs, inXile, Turn 10, The Coalition, and Rare. Call of Duty, World of Warcraft, Candy Crush, The Elder Scrolls, Fallout, and Halo are all Microsoft properties.

Game Pass revenue is nearing $5 billion annually. Microsoft's gaming strategy is platform-based: use acquired studios to populate Game Pass, which drives recurring revenue and platform lock-in. The $80 billion in acquisitions is not spent on individual games. It is spent on building a subscription moat.

Tencent: The Silent Giant

Tencent is the world's largest gaming company by revenue, with approximately $32 billion in games segment revenue in 2024. Tencent owns stakes in more gaming companies than any other entity on the planet.

Fully owned studios include Riot Games, maker of League of Legends and Valorant, and Supercell, maker of Clash of Clans, acquired for $8.6 billion. Tencent also fully owns Funcom, Turtle Rock, and Splash Damage.

Minority stakes include Epic Games, maker of Fortnite, at approximately 40 percent. Ubisoft at approximately 10 percent. FromSoftware, maker of Elden Ring, at approximately 16 percent. PlatinumGames. Marvelous, in which Tencent holds a majority stake.

Tencent's strategy is dual-track. Full acquisitions for studios that fit its platform strategy. Strategic minority stakes for studios that provide portfolio diversification and optionality. The minority stakes give Tencent influence without the regulatory burden of full ownership.

The Trump administration has been reviewing whether Tencent can retain its stakes in U.S. gaming companies including Epic Games. The review could force Tencent to divest, which would reshape the ownership map of Fortnite and other major franchises.

Sony: PlayStation and Beyond

Sony Group Corporation has the most critically acclaimed first-party lineup in gaming. Sony's studios include Naughty Dog, maker of The Last of Us, Insomniac Games, maker of Marvel's Spider-Man, Santa Monica Studio, maker of God of War, Guerrilla Games, maker of Horizon, and Sucker Punch, maker of Ghost of Tsushima.

Sony acquired Bungie for $3.6 billion in January 2022, adding the Destiny franchise to its portfolio. Bungie operates as an independent unit of Sony Interactive Entertainment, run by its board chaired by CEO Pete Parsons. Sony is looking beyond Destiny, hoping Bungie's experience in live-service gaming can help with PlayStation's live-service strategy.

Sony is a full-stack entertainment conglomerate. The company owns PlayStation, Sony Music Entertainment, and Sony Pictures. A game developed by Naughty Dog can be adapted into a Sony Pictures film, with a soundtrack from Sony Music, distributed on PlayStation. The cross-division synergies are built into the corporate structure. For more on Sony's film division, see our movie studio ownership.

Nintendo: Switch 2 and Independence

Nintendo launched Nintendo Switch 2 in June 2025. The company has the most profitable IP per unit of revenue in gaming. Nintendo's franchises include Mario, Zelda, Pokemon (partial), Animal Crossing, Splatoon, and Super Smash Bros.

Nintendo is publicly traded on the Tokyo Stock Exchange under ticker 7974. The Master Trust Bank of Japan is the largest shareholder at 16.2 percent. Nintendo holds 12.5 percent in treasury stock. The Yamauchi family's direct control ended after Hiroshi Yamauchi's death in 2013.

Saudi Arabia's Public Investment Fund holds approximately 8.58 percent of Nintendo, making it the largest outside investor. PIF acquired the stake in 2022, worth approximately $2.98 billion at the time. The purchase was described as potentially the start for Japanese gaming companies to be integrated into a global industry reshuffle.

Nintendo remains independent. But Saudi Arabia's PIF is the largest external shareholder. The same sovereign wealth fund that now owns EA outright holds a significant minority stake in Nintendo. The PIF's gaming portfolio spans ownership levels from full acquisition to strategic minority stakes.

Saudi Arabia's Gaming Empire

Saudi Arabia's Public Investment Fund is building the world's most diversified gaming portfolio. Savvy Games Group, PIF's dedicated gaming and esports investment arm, has allocated roughly $38 billion since 2022.

PIF's gaming portfolio includes EA at 93.4 percent, acquired for $55 billion and closed in August 2026. Scopely, acquired for $4.9 billion in 2023. ESL FACEIT Group, the world's largest esports organizer. Nintendo at approximately 8.58 percent. Capcom at approximately 5 percent. Nexon at a minority stake. Take-Two Interactive at a minority stake.

Scopely, owned by Savvy Games, paid $3.5 billion to acquire Pokemon Go from Niantic. The acquisition extended Saudi Arabia's gaming reach into mobile and augmented reality. PIF is also transferring roughly $12 billion worth of gaming company shares, including Nintendo and Bandai Namco Holdings, to Savvy Games Group.

PIF's head of international investments Turqi Alnowaiser said entertainment and sports are key areas of strategic focus for the fund. The EA acquisition is the largest single move in this strategy, but it is part of a broader pattern of Saudi investment in the gaming industry.

The Top 12 Gaming Buyouts

The top 12 gaming buyouts by transaction value reveal the concentration of ownership in the gaming industry:

1. Microsoft acquires Activision Blizzard: $75.4 billion (October 2023) 2. PIF, Silver Lake, and Affinity Partners acquire EA: $55 billion (August 2026) 3. Tencent acquires Supercell: $8.6 billion (2016) 4. Microsoft acquires ZeniMax/Bethesda: $7.5 billion (2021) 5. Savvy Games acquires Scopely: $4.9 billion (2023) 6. Sony acquires Bungie: $3.6 billion (January 2022) 7. Scopely acquires Pokemon Go (Niantic): $3.5 billion

Microsoft appears on the list three times, more than any other company. Saudi Arabia appears twice, through PIF's direct acquisition of EA and Savvy Games' acquisition of Scopely. The top 12 buyouts total over $134 billion in acquisition value.

Source: EA, Microsoft, Sony, Tencent press releases and SEC filings. All brand ownership data verified through WhoBrands.com research methodology.

What This Means for Brand Ownership

The companies behind your favourite video games are a handful of mega-corporations and sovereign wealth funds. Five companies control the majority of franchises. Saudi Arabia is building the world's most diversified gaming portfolio. Tencent holds stakes in more companies than any other entity. Microsoft has spent more than $80 billion on acquisitions.

The gaming industry has consolidated at a pace that rivals any other media sector. In the span of four years, from 2022 to 2026, the industry saw over $134 billion in acquisition value. Use WhoBrands.com to trace who makes your favourite games. For more on how gaming intersects with other entertainment, see our toy brand ownership.

FAQ

Who owns EA now? Electronic Arts is owned by a consortium led by Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners, run by Jared Kushner. The acquisition closed on August 4, 2026, for $55 billion. PIF holds 93.4 percent, Silver Lake holds 5.5 percent, and Affinity Partners holds 1.1 percent. EA is delisted from NASDAQ.

How much has Microsoft spent on gaming acquisitions? Microsoft has spent more than $80 billion on video game acquisitions since 2014. The largest was Activision Blizzard for $75.4 billion, followed by ZeniMax/Bethesda for $7.5 billion and Mojang for $2.5 billion. Microsoft owns the largest gaming portfolio by acquisition spend.

What is Saudi Arabia's gaming portfolio? PIF's gaming portfolio includes EA (93.4 percent, $55 billion), Scopely ($4.9 billion via Savvy Games), ESL FACEIT Group, Nintendo (approximately 8.58 percent), Capcom (approximately 5 percent), and minority stakes in Nexon and Take-Two Interactive. Savvy Games Group has allocated roughly $38 billion since 2022.

Who is the largest gaming company by revenue? Tencent is the world's largest gaming company by revenue, with approximately $32 billion in games segment revenue in 2024. Tencent owns stakes in more gaming companies than any other entity, including full ownership of Riot Games and Supercell, and minority stakes in Epic Games, Ubisoft, and FromSoftware.

Explore Related Brands

• Xbox - Gaming platform brand, owned by Microsoft (Nasdaq: MSFT)
• PlayStation - Gaming platform brand, owned by Sony Group (NYSE: SONY)
• Call of Duty - FPS franchise, owned by Microsoft via Activision Blizzard
• Minecraft - Sandbox game, owned by Microsoft via Mojang
• Fortnite - Battle royale game, owned by Epic Games (Tencent ~40%)
• League of Legends - MOBA game, owned by Tencent via Riot Games

Browse all technology brands

Also read: Video Game Brands and Their Corporate Parents - the companion post focusing on franchises rather than companies.

Sources

1. EA: EA Announces Completion of Acquisition by PIF, Silver Lake, and Affinity Partners -- https://www.ea.com/news/ea-announces-completion-of-acquisition 2. Reuters: Electronic Arts to go private in record-setting $55 billion LBO -- https://www.reuters.com/business/media-telecom/electronic-arts-go-private-55-billion-deal-with-pif-silver-lake-2025-09-29/ 3. AP News: Video game giant Electronic Arts closes $55 billion go-private sale -- https://apnews.com/article/electronic-arts-sims-battlefield-silver-lake-e50d653ac4616d063296e2021d826a3c 4. SEC Filing: Microsoft 8-K Completion of Activision Blizzard Acquisition -- https://www.sec.gov/Archives/edgar/data/789019/000119312523255762/d537928d8k.htm 5. Yahoo Finance: Top 12 Most Expensive Video Game Buyouts Of All Time -- https://finance.yahoo.com/ 6. Bloomberg: Saudi Arabia Moves Billions In Video-Game Stock to Subsidiary Savvy -- https://www.bloomberg.com/news/articles/2026-01-14/saudi-arabia-moves-billions-in-video-game-stock-to-subsidiary 7. Nintendo: Annual Report 2026 -- https://www.nintendo.co.jp/ir/en/ 8. Tencent: 2025 Annual and Fourth Quarter Results -- https://static.www.tencent.com/uploads/2026/03/18/c5a080d9b669f63b4e55182acee96bc2.pdf

All brand ownership data verified through WhoBrands.com research methodology. Last updated: September 2026.

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