Now Sony to acquire gaming company Bungie for US$3.6 billion

January 31, 2022 02:44 PM PST | By Rupam Roy

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Now Sony to acquire gaming company Bungie for US$3.6 billion — Image source: Ken Wolter,shutterstock

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Highlights

Sony plans to acquire gaming company Bungie for US$3.6 billion.

It is the third major gaming deal this month, after Microsoft Corp and Take-Two Interactive's purchase of Activision Blizzard and Zynga, respectively.

Bungie will continue to operate as an independent studio after the acquisition.

Sony Interactive Entertainment, a subsidiary of Sony Group Corporation, plans to purchase the privately-held gaming company Bungie for US$3.6 billion.

Bungie had spun off from Microsoft in 2007. The software giant had acquired Bungie in 2000. The Bungie acquisition is the third major gaming deal this month, after Microsoft Corp and Take-Two Interactive's purchase of Activision Blizzard and Zynga, respectively.

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The deal comes in less than two weeks after Xbox manufacturer Microsoft acquired game developer company Activision Blizzard for US$75 billion, making it Microsoft's largest deal ever. In addition, Take-Two Interactive acquired Zynga for US$12.7 billion this month.

Bungie, a video game developer, was founded in May 1991. It is based in Bellevue, Washington. The company is well known for its hit game franchises like Destiny and Halo. Microsoft still retains the rights of the Halo franchise, which it has been developing since 2011.

Bungie will continue to operate as an independent studio. It emphasized that its games will not be limited to just PlayStation. It also plans to open an office in Amsterdam this year.

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Source: Pixabay

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Sony Stock Performance

Shares of Sony Group Corporation (SONY) traded at US$111.30 at 3:24 pm ET on January 31, up 4.17% from its previous close. The stock rose 8.43% over the past 12 months.

The growing interests of technology companies such as Microsoft in the gaming industry highlight their eagerness to expand to new areas. iPhone-maker Apple Inc had recently indicated its interest in augmented virtual-reality projects.

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Bottomline

Sony Group Corporation President and CEO praised Bungie for creating popular videogame franchises. On his part, Bungie CEO Pete Parsons said the game world is “only the beginning” of what the IP (internet protocol) would become.

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