Sony has announced it has invested $250 million in Epic Games, the developer and distributor of the popular game Fortnite, which is also the creator of Unreal Engine. In a statement, the Japanese company has revealed it now owns a 1.4% stake of Epic, and the deal will lead to building “a more open and accessible digital ecosystem for all consumers and content creators”.
Epic Games has remained impartial to cross-platform technology, but analysts predict that Sony might get an edge in the upcoming battle of PS5 vs Xbox Series X. Sony CEO Kenichiro Yoshida said Epic’s technology keeps it “at the forefront of game development” and that is best seen in the features of Fortnite.
Unreal Engine is also a key part of the gaming industry, being a fundamental toolset for building many popular games.
Epic CEO Tim Sweeney also said that both companies “have created businesses at the intersection of creativity and technology and they share a vision of real-time 3D social experiences”. This is obviously a nod to the Fortnite live concerts that took place earlier this year and Sony might be able to bring some of its know-how and users to the universe of the popular game.
Sony Corporation (“Sony”) and Epic Games, Inc. (“Epic”) are pleased to announce that Sony has agreed to make a strategic investment of $250 million to acquire a minority interest in Epic through a wholly-owned subsidiary of Sony. The 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.
Sony Corporation and Epic Games announce that Sony has agreed to make a strategic investment of $250 million in Epic.
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.
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