Sony and Epic Games announced today that the PlayStation maker has invested $250 million in the Fortnite company for a minority stake.
According to the announcement, the minority stake purchased in Epic Games by Sony aims to “broaden their collaboration” and cement the already “close relationship between the two companies.”
The statement says the investment reinforced the companies’ “shared mission 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 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,” said 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.”
The closing of the investment is subject to customary closing conditions, including regulatory approvals.