Sony completes $3.6 billion buyout of Bungie
Sony completes its acquisition of Bungie Studios, a $3.6 billion deal that is far from the last of its kind.
The developer to whom we owe the Destiny games is now part of the great Sony family. Sony Interactive Entertainment has completed its $3.6 billion acquisition of independent video game studio Bungie. The announcement was made via tweets from Bungie as well as from PlayStation Studios.
Sony completes acquisition of Bungie Studios
Under the terms of the agreement, Bungie will retain creative control over its operations and develop its video games in-house. As executives from both companies have noted since the deal was first announced last January, Bungie will be treated as an independent subsidiary of Sony and will not necessarily be involved in the creation of any current or future exclusive games for the Playstation consoles.
As TechCrunch notes, Sony is hoping Bungie’s experience with games like Destiny will help it further expand its live game and service offering. The company plans to spend 55% of PlayStation’s budget on live streaming by 2025, Sony CEO Jim Ryan said during an investor presentation last May. PlayStation also plans to release at least 10 games with these features by March 2026, and Sony is counting on Bungie’s help in this.
$3.6 billion deal, far from the last of its kind
Also this week, Sony completed the acquisition of Montreal studio Haven, which is working on a multiplayer game for the PlayStation. And Sony is far from over. The Japanese multinational plans to acquire more studios in the coming years to further expand its live streaming and PC offerings, as Jim Ryan has repeatedly stated in interviews. As for Microsoft and Xbox, the Redmond-based firm is due to complete its $68.7 billion acquisition of Activision Blizzard next summer.
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.
Per Audacia ad Astra! https://t.co/trVT3s0BTE pic.twitter.com/YQbnLrnAQW
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