Sony Acquires Another Gaming Studio

Sony is once again adding its name to the recent flurry of acquisitions taking place across the gaming industry.

The tech giant has agreed to acquire Montreal-based video game development company Haven Studios for an undisclosed amount. Sony and Haven Studios will work together to develop new and original intellectual property with a multiplayer experience for PlayStation consoles. 

The deal for Haven Studios adds to a growing list of acquisitions by major gaming companies. 

• In January, Microsoft announced plans to acquire video game holding company Activision Blizzard in a $68.7 billion, all-cash deal.
• Earlier this month, Epic Games announced plans to acquire independent music storefront Bandcamp for an undisclosed amount. 

Sony’s purchase also marks its second gaming-related acquisition in 2022. In January, the Tokyo-based company agreed to acquire video game developer Bungie, the original creator of “Halo,” in a deal valued at $3.6 billion. Sony’s deal for Bungie follows Microsoft’s acquisition of the company in 2000 for an undisclosed amount. Bungie split from Microsoft in 2007.

Hot and Cold 

Sony generated $26.5 billion in revenue in the quarter ending Dec. 31, 2021, a 12.5% increase year-over-year.

The company saw its gaming sales reach $7 billion during the quarter, an 8% drop compared to the same period the year prior, due to the semiconductor shortage plaguing the tech industry.

Sony also reported $2.3 billion in gaming hardware sales, a 22.3% downtick year-over-year.