INDEX / DIRECTORY / ELECTRONIC ARTS / ECONOMIC

Electronic Arts ECONOMIC

ECONOMIC AUDIT UPDATED 2026-09-22
Economic Score 1.82 /10 D Electronic Arts - BDS-1000 375
Economic 1.82

Evidence-only forensic audit. Scoring happens downstream - see the main dossier for the composite assessment.

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Supply Chain & Sourcing Relationships

EA’s official sales guidance describes digital games, downloadable content, and premium virtual currencies rather than Israel-origin physical goods.1

The guidance names Epic Games, Humble Bundle, and Valve/Steam as trusted PC retailers, and Microsoft Store, Nintendo eShop, and PlayStation Store as authorized online resellers for console digital games.1

No Israel-specific EA distributor or reseller is identified in that guidance.1

No public evidence identified.

No public evidence identified of direct procurement from Israeli agricultural exporters, Israeli-origin physical-product sourcing, an EA importer-of-record, recurring seasonal procurement, or white-label sourcing in the reviewed materials.2, 3, 1

Product Origin, Labeling & Regulatory Compliance

EA’s reviewed corporate, subsidiary, acquisition, and sales materials do not identify settlement-origin physical goods or country-of-origin labeling practices.4, 2, 3, 1

No public evidence identified of customs or DEFRA enforcement involving EA, or of an EA policy governing sourcing or labeling from occupied or contested territories.2, 3, 1

A supplied document-scoped full-text pre-scan found no mention of Electronic Arts in the specified OHCHR settlement-database updates, A/HRC/59/23, DBIO, PAX, Who Profits, Human Rights Watch, Amnesty, Al-Haq, KLP, BankTrack, BDS, and insurance materials; this does not establish absence from other editions, databases, or records.5, 6, 7, 8

Investment, Capital & Financial Exposure

In May 2018, EA announced its acquisition of cloud-gaming technology assets and personnel from an Israel-based wholly owned GameFly subsidiary, characterizing the transaction as an asset-and-personnel acquisition rather than an equity acquisition of that subsidiary.2

EA stated that the acquired Caesarea-based team would join its central technology organization.2

EA’s FY2019 Form 10-Q reported $50 million in total cash consideration for the GameFly cloud-gaming technology-assets-and-personnel transaction, including $43 million allocated to identified intangible assets and $7 million to goodwill.9

In April 2023, EA confirmed to Globes that it had decided to close its internal cloud-development activities and offices in Israel.10

Globes reported that the Caesarea office had 63 employees and that most were expected to be laid off, although this employee count was contemporaneous press reporting rather than an EA filing.10

EA’s FY2026 subsidiary exhibit continues to list Electronic Arts Israel Ltd. as an Israel-incorporated subsidiary, without disclosing its ownership percentage, assets, personnel, activity, tax status, or dissolution status.3

The current subsidiary listing is legal-entity evidence but does not establish that the Caesarea operation remained open after the 2023 closure.10, 3

No public evidence identified of EA-owned Israeli factories, data centres, logistics hubs, occupied-territory real estate, Israeli sovereign-bond holdings, Israel-focused funds, or other disclosed Israeli portfolio investments.2, 3

On 15 July 2024, Belenus Lux agreed to sell Affinity 4.95% of Phoenix’s issued share capital at NIS 37.50 per share, for approximately NIS 466 million, and entered a conditional forward agreement for a further 4.95% subject to a holding permit.11

On 15 January 2025, AP Investments III Ltd. identified Affinity Partners Fund I LP and Affinity Partners Parallel Fund I LP as its holding entities; it reported a permit for Jared Kushner and his spouse, as the funds’ stated ultimate control holders, to hold indirectly up to 10% of Phoenix and its controlled insurers.12

That disclosure stated that AP then held 12,447,675 Phoenix shares and expected to hold approximately 9.91% after the second transaction; it also stated that voting rights at Phoenix general meetings were limited below the permitted holding level, without publishing the applicable voting rate.12

Phoenix stated on 20 January 2025 that Affinity had acquired nearly 10% of Phoenix shares.13

On 27 July 2026, AP Investments III Ltd. notified Phoenix of an off-market agreement to sell 6,216,651 Phoenix ordinary shares at NIS 168.50 per share, with settlement anticipated on 30 July 2026.14

Affinity’s 27 July 2026 release stated that it sold 25% of its Phoenix shares, returned its original investment to limited partners, and retained a 7.4% Phoenix stake; the reviewed TASE notice establishes the sale agreement but not completed settlement.14, 15

Operational Presence & Market Activity

EA’s 2018 announcement located the acquired cloud-gaming team in Caesarea, while EA’s 2023 statement confirmed the planned closure of its internal cloud-development activity and Israel offices.2, 10

As of 22 September 2026, EA lists Israel among the 41 countries and territories where EA Play on Xbox is available.16

EA Play on Xbox provides access to selected games, trials, and discounts on EA digital purchases, with Xbox handling membership selection.16

The availability listing establishes access to that service in Israel but does not disclose Israel-specific revenue, the local contracting entity, availability in settlements, or geographically differentiated access within Israel or occupied territory.16

No public evidence identified of EA-operated facilities, government procurement, IDF or Ministry of Defense contracts, or EA-authorized reseller operations in the West Bank, East Jerusalem settlements, or the Golan Heights.3, 16, 1

No public evidence identified of EA activity in settlements after 19 July 2024 or after November 2024, or of a service-geofencing policy resolving settlement access to EA’s Israel-available digital services.16

Corporate Structure & Foundational Ties

Electronic Arts Inc. was incorporated in California in 1982, reincorporated in Delaware in September 1991, and reported principal executive offices in Redwood City, California.4

EA’s May 2018 announcement also described the company as headquartered in Redwood City, California, while presenting its Israeli nexus as acquired technology and personnel.2

EA’s June 2025 proxy disclosed then-reportable beneficial holders above 5% as Vanguard at 11.60%, Saudi Arabia’s Public Investment Fund at 9.87%, BlackRock at 8.91%, and State Street at 5.97%, without characterizing those disclosures as control by any holder.17

On 4 August 2026, EA reported completion of its merger into Oak-Eagle AcquireCo, Inc., with EA surviving as Parent’s wholly owned subsidiary.18

The merger filing identifies Parent and Merger Sub as consortium entities formed by PIF, Silver Lake-affiliated private-investment funds, and Affinity Partners-affiliated private-investment funds, and reports approximately $55 billion in transaction consideration.18

EA’s September 2025 merger filing identifies Oak-Eagle AcquireCo as a Delaware corporation and Oak-Eagle MergerCo as its wholly owned Delaware subsidiary; PIF, Silver Lake-affiliated funds, and Affinity-affiliated funds severally committed equity financing and limited guarantees for their respective portions of specified merger obligations.19

The European Commission’s July 2026 merger notice states that Oak Eagle Topco, LP would indirectly own 100% of AcquireCo, PIF would acquire sole control of EA, and Silver Lake and Affinity would hold non-controlling minority interests through Topco.20

Morocco’s competition authority published a parties-provided non-confidential summary that likewise described PIF as the indirect acquirer and exclusive controller while Oak-Eagle was held by PIF, Silver Lake, and Affinity; the authority stated that the parties were responsible for the supplied information.21

No primary Brazilian CADE filing was retrieved that specifies post-closing ownership percentages, voting rights, board rights, or governance powers for PIF-, Silver Lake-, and Affinity-affiliated investors. No public evidence identified in the reviewed primary records for a 93.4%/5.5%/1.1% allocation or accompanying board or voting-right allocations.18, 20, 21

No public evidence identified in the reviewed primary records of a post-closing EA board roster, sponsor-specific board-appointment rights, veto rights, reserved-matter rights, or a public Topco governance agreement.18, 19, 20

EA’s pre-merger directors Kofi Bruce, Rachel Gonzalez, Jeffrey Huber, Talbott Roche, Richard Simonson, Luis Ubiñas, and Heidi Ueberroth resigned at the merger’s effective time.18

EA’s 2019 subsidiary exhibit listed Electronic Arts Israel Ltd. as an Israel-incorporated subsidiary, but that historical exhibit does not establish current group ownership.22

A secondary registry-derived CheckID page identifies Electronic Arts Israel Ltd. as company no. 515772630, incorporated on 10 January 2018, and reports a Tel Aviv–Jaffa address, Jacob Joseph Schatz as director, Electronic Arts Nederland B.V. as an “option holder,” and a “voluntarily discharged” status.23

The CheckID page is not an official Israeli Registrar extract, so its ownership terminology and reported status require primary-registry confirmation.23

No public evidence identified of Israeli tax residency, Preferred Technology Enterprise status, Israeli state ownership, government board appointees, critical-national-infrastructure designation, or Israeli management control for EA Inc. in the reviewed corporate materials.4, 18, 22, 3

Profit Repatriation & Economic Contribution

The EA merger agreement names Affinity Partners Fund I LP and Affinity Partners Parallel Fund I LP, alongside named Affinity Fund I co-investment vehicles, among the Affinity entities providing guarantees and equity commitments for the EA transaction.19

The Phoenix January 2025 filing identifies the same Fund I and Parallel Fund I vehicles as holding entities for the Phoenix investment.12

This establishes a documented common Fund I/Parallel Fund I vehicle link between the Affinity side of the EA transaction and the disclosed Phoenix investment structure, but does not establish common capital contributions, ownership percentages in Oak Eagle Topco, or a capital flow between the investments.19, 12

No public evidence identified of Phoenix dividends, sale proceeds, or unrealised gains being contributed to, invested in, pledged for, or distributed through EA’s parent; the shared vehicle names do not establish a cross-subsidy or upstream profit relationship.19, 12, 14, 15

No public evidence identified of EA’s Israel-specific revenue, tax payments, profits, dividends, or repatriation flows.3

EA’s FY2026 subsidiary exhibit identifies an Israeli legal entity but provides no country-level financial information.3

No public evidence identified of a government or industry designation treating EA as an Israeli sector anchor, key employer, or critical-infrastructure provider.10

The identified reporting instead documents EA’s 2023 closure of its internal cloud-development operation and Israel offices.10

Footnotes

  1. https://help.ea.com/en/articles/orders-and-rewards/buy-ea-premium-currencies-and-digital-download-games/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  2. https://news.ea.com/press-releases/press-releases-details/2018/Electronic-Arts-Acquires-Cloud-Gaming-Technology - Talent/default.aspx ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  3. https://www.sec.gov/Archives/edgar/data/712515/000162828026033617/ex-211subsidiariesofthereg.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10

  4. https://www.sec.gov/Archives/edgar/data/712515/000071251525000022/ea-20250331.htm ↩ ↩2 ↩3

  5. https://www.sec.gov/Archives/edgar/data/712515/000114036125041416/ny20056157x1_prem14a.htm ↩

  6. https://cdn.financialreports.eu/financialreports/media/filings/6983/2025/RNS/6983_rns_2025-02-13_5c8752ee-d7cc-4e3a-bb93-01bb1a29c5b2.pdf ↩

  7. https://www.sec.gov/Archives/edgar/data/2031474/000095014225001390/xslF345X03/es250628258_4-kushner.xml ↩

  8. https://mayafiles.tase.co.il/rpdf/1605001-1606000/P1605199-00.pdf ↩

  9. https://www.sec.gov/Archives/edgar/data/712515/000071251519000004/ea12312018-q3fy1910qdoc.htm ↩

  10. https://en.globes.co.il/en/article-games-giant-ea-closes-israel-development-center-1001444241 ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  11. https://mayafiles.tase.co.il/rpdf/1605001-1606000/P1605202-00.pdf ↩

  12. https://mayafiles.tase.co.il/rpdf/1640001-1641000/P1640804-00.pdf ↩ ↩2 ↩3 ↩4 ↩5

  13. https://www.prnewswire.com/news-releases/leading-investors-complete-purchase-of-remaining-phoenix-shareholding-from-centerbridge-and-gallatin-point-302355380.html ↩

  14. https://mayafiles.tase.co.il/rpdf/1759001-1760000/P1759661-00.pdf ↩ ↩2 ↩3

  15. https://www.morningstar.com/news/pr-newswire/20260727ny13349/affinity-partners-brings-leading-global-investors-into-phoenix-remains-largest-shareholder-with-a-significant-long-term-ownership-position ↩ ↩2

  16. https://help.ea.com/en/articles/ea-account/join-ea-play-on-xbox/ ↩ ↩2 ↩3 ↩4 ↩5

  17. https://www.sec.gov/Archives/edgar/data/712515/000130817925000556/ea014143-def14a.htm ↩

  18. https://www.sec.gov/Archives/edgar/data/712515/000114036126031157/ef20079099_8k.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6

  19. https://www.sec.gov/Archives/edgar/data/712515/000114036125036416/ef20056167_defa14a.htm ↩ ↩2 ↩3 ↩4 ↩5

  20. https://ec.europa.eu/competition/mergers/cases1/202625/M_12213_250.pdf ↩ ↩2 ↩3

  21. https://conseil-concurrence.ma/wp-content/uploads/2025/11/03-CP-Fr-OCE-PIF-EA-1.pdf ↩ ↩2

  22. https://www.sec.gov/Archives/edgar/data/712515/000071251519000019/ex-211subsidiariesofthereg.htm ↩ ↩2

  23. https://en.checkid.co.il/company/ELECTRONIC%2BARTS%2BISRAEL%2BLTD-6QaL2OM-515772630 ↩ ↩2