“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 Kenichiro Yoshida, Chairman, President, and CEO of Sony Corporation.
“There’s no better example of this than the revolutionary entertainment experience, Fortnite. 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,
“Sony and Epic have both built businesses at the intersection of creativity and technology, and we share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music,” added Tim Sweeney, Founder, and CEO of Epic. “Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.”
With the investment, Sony said it aimed to “broaden their collaboration” and build the already “close relationship between the two companies.” It also pointed to the duo’s “shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”
The investment is dependent on closing conditions including regulatory approvals. While we wait for that to occur, check out analyst Daniel Ahmad’s thoughts on the acquisition below.
Quick thread on Sony and Epic deal:
Sony made a strategic investment of $250 million in Epic Games to acquire a 1.4% minority stake.
The investment cements an already close relationship. Is to explore opportunities for further collaboration, primarily around entertainment. pic.twitter.com/Moin0hUWJu
— Daniel Ahmad (@ZhugeEX) July 9, 2020