Sony injects $250m into Fortnite creator Epic Games
Sony has invested $250m in the game studio behind Fortnite, giving the tech giant a reported 1.4 per cent stake in the business.
Epic Games is now said to be valued at $17.9bn after the deal.
The two companies said the deal will allow them 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”.
Alongside the hit online multiplayer game Fortnite and the Gears of War franchise, Epic is also known in the gaming industry for its Unreal games engine software.
“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations,” said Sony chief executive and chair Kenichiro Yoshida.
“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.”
Epic Games is also backed by Chinese tech behemoth Tencent, which invested $330m in 2012 in exchange for a 40 per cent stake.
Sony is preparing to launch its Playstation 5 console later this year, with Epic founder and chief executive Tim Sweeney saying the two have been working closely on adapting the new console’s storage.
“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,” said Sweeney.
“Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.”