Sony Corporation will make a strategic investment of $250 million in Epic Games, both companies announced on Thursday. The investment grants Sony a minority interest in the developer of not only one of the biggest games around right now, Fortnite, but also the Unreal Engine. The investment will be made through a “wholly-owned subsidiary” of Sony. This will grant the media conglomerate a 1.4% stake in Epic Games.
In a joint press release, Sony and Epic Games discuss how the investment will bring both companies closer together. Fortnite was one of the first games that Sony allowed cross-play with other consoles. Thus, the new investment “cements an already close relationship between the two companies and reinforces the shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”
Sony and Epic join forces
The release also explained that the investment will lead to further collaboration between the two companies. By combining Epic’s “social entertainment platform and digital ecosystem” with Sony’s technology and intellectual properties, the two can “create unique experiences for consumers and creators”. We don’t yet know what a collaboration between the two companies could bring to the pair’s other properties. However, Kenichiro Yoshida, the president and CEO of Sony, had some ideas.
“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,” said Yoshida. The two gaming giants could work to bring more in-game experiences like the Travis Scott concert to new titles.
Tim Sweeney, CEO of Epic Games, also shed some light on what the investment could bring to the industry. Sweeny sees a very real possibility of utilizing 3D technology to expand social aspects of gaming, film, and music.
While the investment offer has been made by Sony, the deal is still subject to change. Closing conditions have the possibility of changing and are subject to regulatory approvals.