Sony has invested $250 million for a minority stake in Fortnite maker Epic Games, the companies announced today. Epic's games will stay cross-platform.
Sony has invested $250 million for a minority stake in Fortnite maker Epic Games, the companies announced today. With the new money, Epic Games has raised $1.83 billion to date.
The companies said the deal cements an already close relationship between the two companies and reinforces the shared goal to advance the state of the art in technology, entertainment, and socially connected online services. This close relationship was underscored in May when Epic first showed the upcoming Unreal Engine 5 graphics running on a PlayStation 5. As the company itself has disclosed, Epic Games raised $1.58 billion to date in three previous funding rounds. In 2012, the company received a $330 million investment from Tencent for a 40% ownership stake.
Under the deal, the investment enables Sony and Epic to broaden their collaboration, with Sony’s portfolio of entertainment assets and technology and Epic’s social entertainment platform and digital ecosystem (think Fortnite’s increasing use as a social space or the Epic Games Store), to create unique experiences for consumers and creators. The closing of the investment is subject to customary closing conditions, including regulatory approvals.
Epic confirmed it will still be able to publish to other platforms. As noted, Sony is acquiring only a minority part of Epic Games, and it is not acquiring a controlling stake in the company.