Sony To Acquire Halo & Destiny Developer Bungie In $3.6 Bln Deal

Sony Interactive Entertainment has agreed to buy privately-held video game developer Bungie for $3.6 billion, the latest big deal in the world of gaming.

Bellevue, Washington-based Bungie was the company that developed popular multiplayer shooting games Halo and Destiny. Microsoft had acquired Bungie in 2000 and turned the Halo series into its Xbox’s “killer app”, selling millions of copies and spawning the Halo franchise.

In 2007, Bungi split from the Windows maker and become a privately held independent company, while Microsoft retained ownership of the Halo franchise intellectual property.

Meanwhile, the latest deal will give Sony access to Bungie’s live game services and technology expertise, however, Bungie will continue to operate independently.

This is the third big acquisition announced this month in the gaming industry after Take-Two Interactive announced the $12.7 billion deal to acquire Zynga and Microsoft announced $69 billion acquisition of Activision Blizzard.

“Bungie has created and continues to evolve some of the world’s most beloved videogame franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation. “As part of our Purpose to ‘fill the world with emotion, through the power of creativity and technology’, we will utilize the Sony Group’s diverse array of entertainment and technology assets to support further evolution of Bungie and its ability to create iconic worlds across multiple platforms and media.”

The transaction is subject to certain closing conditions, including regulatory approvals.

Sony Interactive Entertainment, which develops PlayStation and is based in San Mateo, California, is a subsidiary of Sony Group Corporation.

Source: Read Full Article