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Sony closes deal to acquire Destiny developer Bungie for PlayStation

2022-07-15 16:46 by
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Today Sony officially confirmed that its Bungie buyout deal has closed. Bungie is now part of PlayStation's first-party studios and will bring its live service expertise to help lead Sony into a new era of online live games.

Sony also filed a new 6-K SEC filing to alert investors of the acquisition. In the document, Sony says the deal closed for $3.7 billion and that the acquisition was approved quicker than expected. The deal was originally planned to close by December 2022, during Sony's Q3 period, but has instead been approved during Q2. Sony won't pay $3.7 billion for Bungie all at once, and the payments will be deferred over multiple years across different terms (for example, Sony is offering a $1.2 billion employee retention incentive).

Meanwhile, Bungie released its own statement celebrating its now-official status as a PlayStation studio.

"We are proud to officially join the incredible team at PlayStation, we are excited for the future of our company, and we are inspired to bring together players from all over the world to form lasting friendships and memories," reads Bungie's announcement.

Bungie has been making games since 1991, originally gaining recognition for its Marathon first-person shooter trilogy and the hit Myth series of real-time tactics games. Microsoft acquired Bungie in 2000 which lead to the Xbox launch title Halo: Combat Evolved solidifying the burgeoning console's position in the industry. The Halo franchise would go on to be one of Bungie's most successful projects along with 2014's massively-multiplayer looter-shooter Destiny. Bungie's relationship with Microsoft kept the Halo franchise confined to Xbox and PC, while Destiny managed to be a multiplatform success. The recent acquisition by Sony is an opportunity for Bungie to create more multiplatform games rather than exclusives.

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