Sony buys Bungie for US$3.6 billion
Sony has revealed that the company will be purchasing the game studio and publisher, Bungie, for US$3.6 billion. Bungie is the developer behind the multiplayer-focused Destiny franchise and was the original creators of the long running Microsoft Halo games.
The CEO of Sony Interactive Entertainment, Jim Ryan, expressed his elation about Bungie joining the PlayStation family and stated that the company developed a bond with the studio since the first Destiny game. Ryan firmly capitulated that Bungie will keep its independence as a game developer and publisher and that Bungie will work together with PlayStation studios.
With the acquisition, Bungie’s proprietary technologies can be adapted by the PlayStation studios. Bungie also issued a statement, claiming that the collaboration will allow it to further its goal of 'creating generation-spanning entertainment' by providing support while maintaining creative independence. Bungie further iterates its position as an independent publisher and will continue to support its multi-platform games and communities.
This deal follows Microsoft’s earth-shattering acquisition of Activision Blizzard for US$69 billion, which may have prompted Sony to respond. While Sony’s purchase is on a smaller scale than Microsoft’s recent acquisition, it indicates that these rivals are willing to spend billions of dollars to acquire studios and their independent properties across the gaming industry. Other developer or publisher buyouts may be expected in the future as the competition continues.