Sony Invests $250 Million Into Epic Games, Becomes Minority Stakeholder
Sony may be out of the bidding for Leyou Technologies, but it's now got a piece of Epic Games. Venture Beat is reporting that Sony has invested $250 million to become a minority stakeholder of the Fortnite and Unreal Engine 5 developer, which has now raised $1.83 billion of funding.
When the deal is concluded, Sony will own 1.4% of Epic Games, as compared to the 40% share owned by Tencent, which invested $330 million back in 2012.
Venture Beat's Dean Takahashi said that the deal is being made because Sony "needs allies in the upcoming console war." However, Epic's Unreal Engine 5 will continue to work across all game platforms, including the upcoming PlayStation 5 and Microsoft's Xbox One X.
Epic CEO Tim Sweeney said that the two companies "share a vision of real-time 3D social experiences that will lead to a convergence of gaming, film, and music" (paraphrased), which could mean greater emphasis on experiences like the music, film, and social events that have become commonplace within Fortnite.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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