Electronic Arts, video game company behind "The Sims" and "Madden NFL," to be acquired in $55 billion deal

Video game company Electronic Arts, known as the maker of the "The Sims" and "Madden NFL," is being acquired in a $55 billion deal.

The California-based company said Monday it had entered into a definitive agreement to be acquired by a consortium of companies including Affinity Partners, PIF and Silver Lake.

"The transaction positions EA to accelerate innovation and growth to build the future of entertainment," the company said in a statement.

— This is developing news and will be updated