Sony invests $250 million in 'Fortnite' maker Epic Games2020-07-09 18:22 by Daniela
Tags: Sony, Epic Games, Fortnite
Sony has made a $250 million investment in Epic Games, the two companies announced on Thursday. The deal means Sony gets a 1.4 percent interest in the game development studio and publisher and gives Epic a valuation of $17.86 billion.
The companies said the deal cements an already close relationship and reinforces their shared goal to advance the state of the art in technology, entertainment, and socially connected online services.
"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 CEO Kenichiro Yoshida in a statement. "There's no better example of this than the revolutionary entertainment experience, 'Fortnite.'"
It's unclear how this venture will immediately impact either Sony or Epic. In May, Epic showcased Unreal Engine 5 running on a PS5, but it has already been confirmed that the engine will be available for Xbox developers too. However, as PlayStation is rumored to start porting more of its exclusives to PC, it's looking increasingly likely that those games might not show up on Steam.
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