- Sony recently announced that it is investing $250 million in Fortnite developer Epic Games as part of a strategic deal
Sony recently announced that it is investing $250 million in Fortnite developer Epic Games as part of a strategic deal. The $250 million gives Sony a 1.4% take in Epic Games based on a reported valuation of nearly $18 billion. Fortnite is considered the world’s largest game with over 350 million accounts and 2.5 billion friend connections.
North Carolina-based Epic Games is independently owned and the majority owner is the company’s founder and CEO Tim Sweeney. China-based Tencent is also an investor in Epic Games. Epic is going to continue publishing games for a wide variety of gaming platforms.
“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. Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike,” said Tim Sweeney, Founder and CEO of Epic.
Epic Games is also known for developing the Unreal Engine software suite — which is used for developing many video games. And Epic Games also runs the Epic Game Store, a place to buy and download games for PCs and Macs. Epic Games also hosts online social gaming events.
This investment is cementing an already close relationship between Sony and Epic Games. Plus the investment will enable Sony and Epic to broaden their collaboration across Sony’s leading portfolio of entertainment assets and technology. And Epic’s social entertainment platform and digital ecosystem will create unique experiences for consumers.
“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. 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,” explained Kenichiro Yoshida, Chairman, President and CEO of Sony Corporation.