Sony has made a strategic investment of $250 million in Fortnite creator Epic Games.
Through its American subsidiary, the Japanese firm has acquired a minority stake in Epic. Moreover, the agreement between the two companies covers more than just Sony’s games division.
Earlier this year, rapper Travis Scott performed a concert in Fortnite, who is signed to Epic Records, a Sony Music Entertainment arm. The overwhelming success of the event could have cemented Sony’s decision to invest in Epic Games.
“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,” said Tim Sweeney, founder and CEO of Epic.
“Explore opportunities”
“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. There’s no better example of this than the revolutionary entertainment experience, Fortnite,” said Sony Corporation CEO, chairman and president Kenchiro Yoshida.
“Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games but also across the rapidly evolving digital entertainment landscape.”
Last month, at a valuation of $17 billion, Epic Games was seeking $750 million through a new funding round. On mobile, Fortnite has proven popular as it hit 350 million players in May.
