Sat, 15 Aug 2020

Sony acquires small stake in Epic Games

Field Level Media
11 Jul 2020, 03:19 GMT+10

Sony invested $250 million in Epic Games, creator of Fortnite, in exchange for a small slice of ownership in the company.

"The investment cements an 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," the companies said in a joint news release issued Thursday.

Forbes said Sony's investment gives the company a 1.4 percent stake in Epic Games. That means Epic is valued at nearly $18 billion.

Epic Games raised $1.58 billion in three prior rounds of funding, including an investment from Chinese tech company Tencent in 2012.

--Field Level Media

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