Sony has announced a $250 million investment, for 1.4%, in Epic Games, makers of popular game “Fortnite” to acquire 1.4% stake in the company. This gives Epic a valuation of $17.86 billion.
The investment allows Sony and Epic to aim to broaden their collaboration across Sony’s leading portfolio of entertainment assets and technology, and Epic’s social entertainment platform and digital ecosystem to create unique experiences for consumers and creators. The closing of the investment is subject to customary closing conditions, including regulatory approvals.
“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. There’s no better example of this than the revolutionary entertainment experience, Fortnite. Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape,” said Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation.
“Sony and Epic have both built businesses at the intersection of creativity and technology, and we share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music. Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike,” said Tim Sweeney, Founder and CEO of Epic.
Sweeney said that Sony had started talking with Epic about investing following the demonstration of the Unreal Engine 5 in May 2020
Other investors in Epic include Tencent with 40% which it acquired in 2012, Disney, aXiomatic Gaming and Endeavor Group. Epic Games was founded in 1991 by Tim Sweeney
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