San Francisco, Sept. 29 -- In a move that rewrites the balance of power in interactive entertainment, the 42-year-old publisher behind "EA SPORTS FC," "Madden NFL," "The Sims," "Apex Legends," and "Battlefield" agreed to be taken private in a transaction valuing the company at roughly $55 billion including debt. It is the most audacious wager yet on live-service gaming's staying power - the kind of all-in bet that trusts years of recurring bookings and loyal player communities more than any one holiday hit.

The go-private deal hands control of the California-based company to a sponsor group led by Saudi Arabia's Public Investment Fund alongside technology investor Silver Lake and Affinity Partners, the Miami firm founded by Jared Kushner...