Sony will Acquire Minority Stake in Epic Games

Tech Giant Sony will Acquire a minority stake in Epic games for $250 million (which is approximately  Rs. 1,882 crores). According to sony, his investment will be made by a wholly-owned Sony subsidiary. The same was shared on Sony’s Website via Press Release. it states that this investment will help Sony and Epic to create unique experiences for creators and customers. It further states e-investment cements an already close relationship between the two companies and reinforces the shared mission to advance the state of the art in technology, entertainment, and socially-connected online services

“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.”

The sony has not named the subsidiary from which this investment will be made. Not much information was rolled out regarding this matter.

“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”

Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation.

After the same, The Epic games made the statement

“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.

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