Sony is all set to soon launch its next-generation gaming console — Sony PlayStation 5, the design of which has already been unveiled by the company, along with a list of games that users will be able to play when it gets launched.
Now, the Japanese company has announced an investment of $250 million in Epic Games — the company behind the Fortnite game. With this investment, Epic Games has raised $1.83 billion so far.
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This deal will enable Sony and Epic to broaden their collaboration, with Sony’s portfolio of entertainment assets and technology and Epic’s social entertainment platform and digital ecosystem, to create unique experiences for consumers and creators.
Sony is acquiring a minority stake in Epic Games, about 1.4 percent, which values the gaming company at $17.86 billion. Epic has also confirmed that it will still be able to publish its games on other platforms.
Commenting on the development, 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. Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.”
Epic is also the creator of Unreal Engine, a fundamental toolset for building many games. A few weeks ago, Epic had showcased the upcoming Unreal Engine 5 graphics running on Sony PlayStation 5.
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