San Francisco, Sept. 30 -- 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. Early coverage framed it as a baseline report on a record-size deal, but the implications reach well beyond the sticker price.

The go-private hands control to a sponsor group anchored by a Middle East sovereign investor alongside a pair of U.S. financial backers. The acquirer group's summary terms, including consideration for shareholders and expected timelines, were set out in the company's own statement to investors. For player...