Sony invests $250 million in Fortnite maker Epic Games
Sony is investing $250 million in Fortnite maker Epic Games, giving the Japanese company a minority stake in Epic.
Sony told CNN Business Thursday that it will now have a 1.4% stake in Epic.
The companies said they have an “already close relationship” in a press release announcing the deal, which is pending regulatory approval.
Both companies have expansive portfolios in the video games business. Sony has a cloud gaming service called PlayStation Now, the upcoming PlayStation 5 console and exclusive games. In addition to making Fortnite, Epic runs a successful games store and the Unreal Engine, which developers use to make games.
“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 Sony CEO Kenichiro Yoshida in a statement. “There’s no better example of this than the revolutionary entertainment experience, ‘Fortnite.'”
Yoshida said the collaboration would span beyond games and include “the rapidly evolving digital entertainment landscape.”
Tim Sweeney, founder and CEO of Epic Games, said in a statement that both companies share a vision of seeing 3D social experiences across gaming, film and music.
Epic Games declined to comment on its valuation.