Sony to buy Bungie for $3.6bn
February 1, 2022
Sony Interactive Entertainment has announced that it will buy video game developer Bungie in a deal worth $3.6 billion (€3.2bn).
Bungie is best known for creating the Destiny and Halo video game franchises – with Halo, significantly, being one of the key titles that has contributed to the popularity of Microsoft’s Xbox consoles.
The deal comes on the heels of Microsoft’s plans to buy Activision Blizzard for $68.7 billion.
“Bungie has created and continues to evolve some of the world’s most beloved video game franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Kenichiro Yoshida, chairman, president and chief executive officer, Sony Group Corporation. “As part of our purpose to ‘fill the world with emotion, through the power of creativity and technology,’ we will utilise the Sony Group’s diverse array of entertainment and technology assets to support further evolution of Bungie and its ability to create iconic worlds across multiple platforms and media.”
“We’ve had a strong partnership with Bungie since the inception of the Destiny franchise, and I couldn’t be more thrilled to officially welcome the studio to the PlayStation family,” says Jim Ryan, president and chief executive officer, SIE. “This is an important step in our strategy to expand the reach of PlayStation to a much wider audience. We understand how vital Bungie’s community is to the studio and look forward to supporting them as they remain independent and continue to grow. Like Bungie, our community is core to PlayStation’s DNA, and our shared passion for the gamer and building the best place to play will now evolve even further.”
“In SIE, we have found a partner that fully supports us and wants to accelerate our vision of creating meaningful entertainment experiences that span generations, all while valuing the creative independence that is the heartbeat of Bungie,” added Pete Parsons, chief executive officer and chairman, Bungie. “We will continue pursuing our vision of one, unified Bungie community, building games that value our community and meet them wherever and however they choose to play. Both Bungie and SIE believe that game worlds are only the beginning of what our IP will become. Our original universes have immense potential, and, with SIE’s support, we will propel Bungie into becoming a global multimedia entertainment company dedicated to delivering on our creative vision.”
Post-acquisition, Bungie will be an independent subsidiary of SIE and run by its board of directors chaired by Pete Parsons and Bungie’s current management team.
The transaction is subject to certain closing conditions, including regulatory approvals.