Sony Interactive Entertainment signs $3.6bn deal to acquire Bungie
Sony Interactive Entertainment (SIE) has signed a deal worth $3.6 billion to acquire Bungie, an American video game developer known for creating Marathon, Myth, Halo, and Destiny.
The Sony Group subsidiary, through the acquisition, will get access to approach to live game services and technology know-how of Bungie to help it expand the reach of PlayStation to even more gamers.
Presently, Bungie is betting on the long-term development of the Destiny 2 shooter video game with plans to expand the Destiny universe and build completely new worlds in future IP.
Kenichiro Yoshida — Sony Group Chairman, President, and CEO said: “Bungie has created and continues to evolve some of the world’s most beloved videogame franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world.
“As part of our Purpose to ‘fill the world with emotion, through the power of creativity and technology’, we will utilize the Sony Group’s diverse array of entertainment and technology assets to support further evolution of Bungie and its ability to create iconic worlds across multiple platforms and media.”
Sony Interactive Entertainment to acquire Bungie for $3.6bn. Photo courtesy of Coolcaesar/Wikipedia.org.
Following the acquisition, Bungie will operate as an independent subsidiary of Sony Interactive Entertainment. Besides, it will continue as a multi-platform studio and publisher.
Pete Parsons — Bungie CEO and Chairman said: “In SIE, we have found a partner that fully supports us and wants to accelerate our vision of creating meaningful entertainment experiences that span generations, all while valuing the creative independence that is the heartbeat of Bungie.
“We will continue pursuing our vision of one, unified Bungie community, building games that value our community and meet them wherever and however they choose to play. Both Bungie and SIE believe that game worlds are only the beginning of what our IP will become.”
The closing of the transaction is contingent on regulatory approvals and other customary closing conditions.
Sony Interactive Entertainment’s agreement with Bungie follows the $68.7 billion deal announced in January 2022 by Microsoft to acquire video game developer Activision Blizzard.