Sony has agreed to acquire video game developer Bungie in a deal valued at $3.6 billion.
Bungie, the original creator of “Halo” and current developer of “Destiny,” will continue to independently develop and publish games but will use Sony to accelerate hiring and the development of projects.
Sony’s deal for Bungie follows rival Microsoft’s acquisition of the company in 2000 for an undisclosed amount. Bungie split from Microsoft in 2007 to gain more creative freedom.
The video game industry has allowed Sony to steadily increase its market position in tech.
- The company’s PlayStation division is preparing to launch a new subscription service to compete with Microsoft’s Xbox Game Pass.
- Its PlayStation 5 has sold 13.4 million units globally since its November 2020 release, making it the fastest-selling console in Sony’s history.
- The company posted $21.5 billion in revenue in fiscal Q2 driven by its Game & Network Services segment, which saw sales jump 27% to $5.7 billion.
The Rivalry Continues
Earlier this month, Microsoft announced plans to acquire video game company Activision Blizzard in a $68.7 billion all-cash deal. Pending regulatory approval, the acquisition would make Microsoft the world’s third-largest gaming company by revenue.
Microsoft plans to bring Activision Blizzard games into Xbox Game Pass, which has roughly 25 million subscribers — up 7 million from the start of 2021.
Activision Blizzard posted $2.07 billion in revenue in Q3 2021, a 5.9% increase year-over-year.
