Sony, Like Microsoft, Betting on Acquisitions

Sony acquired Finnish video game developer Housemarque, the studio behind PlayStation 5 hit “Returnal.” Terms were not disclosed.

Housemarque will now make all of its games exclusively for PlayStation consoles. 

The move keeps Sony’s battle going with its rival Microsoft, which is also prioritizing video game acquisitions.

• Microsoft bought game studios Undead Labs, Playground Games, Ninja Theory, and Compulsion Games in 2018 to create more Xbox exclusives.
• “Psychonauts” developer Double Fine was acquired in 2019. 
• Microsoft added Bethesda, the publisher behind “Doom” and “Fallout,” to its roster in March following the $7.5 billion acquisition of parent company ZeniMax.

Microsoft reported revenue of $41.7 billion in fiscal Q3 2021 — its best quarter in four years — and the company closed above the extremely rare $2 trillion market cap for the first time last week.

Sony, while not as flush with cash, is just as serious about snapping up studios, purchasing “Spider-Man” developer Insomniac Games for $229 million in early 2020.

Sony also contributed $200 million to Epic Games’ $1 billion funding round in April, giving the “Fortnite” maker a $28.7 billion valuation — eight months after its previous $250 million investment in the company.