Sony Invests in Epic Games Just Months Before the PS5 Launch
Over the past few years now, Epic Games has become a juggernaut company in the gaming industry. After developing the original Gears of War trilogy, the company went on to make the game that would go on to change the industry, Fornite. Soon after the company created the digital storefront, Epic Games Store, that rivals the king of digital games, Steam. So with all that success it seems Sony has become more than a little interested in investing in the thriving company.
After the release for Fortnite and the Epic Games Store, the company is estimated to be worth roughly 8 billion dollars. While this is the case, Epic Games and Sony have announced that the Japanese electronic company has invested a large amount of money into Epic Games to become a minority shareholder. It is still uncertain at this time what share percentage Sony now owns, however, the amount they invested is $250 million.
While this may seem to come out of nowhere, the two companies have had a close relationship. Recently, the two companies paired up to reveal a demo of the PlayStation 5 and Unreal Engine 5’s capability. Also, Epic Games has sold shares of their company in the past. Back in 2012, the game developer made a similar move with an investor, Tencent, for a 40 percent ownership of the company, for $330 million. Since Epic Games has become a much larger company in the gaming industry, it is speculated that Sony’s investment has gained them far less of a percentage.
So far, there are no concrete details on what this will mean for Epic Games and PlayStation collaborations in the future. In a recent press release, however, Epic CEO Tim Sweeney stated, “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.” Epic has already stated that the Unreal Engine will support the PS5’s main competitor, the Xbox Series X.