Sony has invested $250 million in Epic Games. Epic Games is the owner of the widely used Unreal Engine and the very popular game Fortnite. They also own Houseparty, the video calling app that got super popular recently thanks to the lockdown.
Sony and Epic Games have not disclosed the new value of the game developer post the deal yet, but it’s a step in Epic Games securing a funding of about $17 billion as Bloomberg News reported last month.
Besides the widely popular Fornite, Epic Games’ Unreal Engine is used extensively by many others to create franchises like Borderlands and Gears of War. Unreal Engine 5 was revealed earlier this year and was showcased on PlayStation 5 hardware signaling a collaboration between Epic Games and Sony.
Epic Games’ CEO Tum Sweeney said in a statement on Thursday that he “shares a vision” with Sony that involves a convergence of film, music and gaming. Their Unreal Engine has also been used in the making of the “The Mandalorian” series so it ties in with Sony’s keen interests in TV and movie production as well as gaming.
Sony is currently preparing to launch the PlayStation 5 console later this year. This is Sony’s first major console release since 2013. Their shares went up as much as 3.2% in Tokyo on Friday, closing in on a 19-year high for the company.
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