Sony invests $250 million in Fortnite maker Epic Games
The fifth generation of gaming engine, Unreal Engine 5, had debuted this summer along with the Sony's PlayStation 5 hardware, signalling the collaboration between Epic and Sony
- Jul 10, 2020,
- Updated Aug 14, 2020 9:08 AM IST
The PlayStation maker Sony Corporation has announced a strategic investment of $250 million to acquire a minority interest in Epic Games Inc. through a wholly-owned subsidiary of Sony. Epic Games owns popular video gaming franchises like Fortnite and the Unreal Engine used for the development of games like Borderlands and Gears of War.
Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation, in a press release said, "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."
The fifth generation of gaming engine, Unreal Engine 5, had debuted this summer along with the Sony's PlayStation 5 hardware, signalling the collaboration between Epic and Sony.
Yoshida added, "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."
This investment also cements the already close relationship between the two companies and reinforces the shared mission to advance the state of the art in technology, entertainment, and socially-connected online services, says Sony in a statement.
Tim Sweeney, Founder and CEO of Epic, said, "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."
The investment would also allow Sony and Epic to broaden their collaboration across Sony's portfolio of entertainment assets and technology, and Epic's social entertainment platform and digital ecosystem.
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The PlayStation maker Sony Corporation has announced a strategic investment of $250 million to acquire a minority interest in Epic Games Inc. through a wholly-owned subsidiary of Sony. Epic Games owns popular video gaming franchises like Fortnite and the Unreal Engine used for the development of games like Borderlands and Gears of War.
Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation, in a press release said, "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."
The fifth generation of gaming engine, Unreal Engine 5, had debuted this summer along with the Sony's PlayStation 5 hardware, signalling the collaboration between Epic and Sony.
Yoshida added, "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."
This investment also cements the already close relationship between the two companies and reinforces the shared mission to advance the state of the art in technology, entertainment, and socially-connected online services, says Sony in a statement.
Tim Sweeney, Founder and CEO of Epic, said, "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."
The investment would also allow Sony and Epic to broaden their collaboration across Sony's portfolio of entertainment assets and technology, and Epic's social entertainment platform and digital ecosystem.
Also Read: TikTok leaves No.1 position vacant - these apps aim to grab top spot
Also Read: India may witness 10 lakh coronavirus cases by next Friday
Also Read: Will TakaTak be the next TikTok?