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Wednesday, June 19, 2024

Sony Acquires Another Gaming Studio

  • Sony has acquired video game development company Haven Studios.
  • The deal adds to a growing list of acquisitions by major gaming companies.
Sony/Design: Alex Brooks

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.

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