Yesterday, it was announced that Sony invested $250 million in Epic Games, making it a minority shareholder. A minority stake does not allow to influence the company's strategy. Under the deal, Sony gets a 1.4 percent interest in the game development studio and publisher in exchange for $ 250 million, and gives Epic a $17.86 billion valuation.
"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," said Kenichiro Yoshida, Chairman, President, and CEO, Sony Corporation.
Apparently, this deal does not change anything, and the studio will not hit the exclusives for the PlayStation. Epic CEO Tim Sweeney confirmed that the studio would continue to release games on different 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.
This deal is not connected with the previous round of financing. Then Epic raised $750 million, receiving an estimate of $17 billion. In recent years, Epic has raised more than $1.83 billion, including $330 million from Tencent.