Sony bolsters PlayStation by buying game maker Destiny Bungie for $3.6 billion

Sony’s latest PlayStation video game console, the PS5, has been a hit since its release.

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Sony has reached an agreement to buy Halo creator and Destiny maker Bungie, marking an escalation of efforts by top game makers to expand their lineup with some of the industry’s most popular franchises.

The agreement, confirmed monday by the two companies after a previous Bloomberg report, puts one of the industry’s most respected game makers under Sony’s control. Bungie, who play Destiny online gameis also known for creating the first game hit Halo, which is now owned by Microsoft.

“Bungie created two of gaming’s most iconic franchises, Halo and destinyand has deep expertise in bringing incredible immersive experiences at scale to the community through games that evolve and grow over time, and has a hugely impressive roadmap for future content,” jim ryanhead of Sony’s PlayStation division, said in a blog post on Monday.

Sony didn’t say how much it paid for the game’s maker, but Bloomberg said the price was $3.6 billion. The move comes after two other major gaming industry acquisitions this month, when Microsoft announced plans to buy the Call of Duty and World of Warcraft maker. Activision Blizzard for $68.7 billionand Take-Two Interactive said it plans to buy FarmVille developer Zynga for $12.7 billion.

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Bungie’s Destiny is set on a post-apocalyptic Earth after an alien invasion has wiped out most of civilization.

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Both Sony and Bungie said the deal will allow Sony to expand its stable of immersive game worlds, while giving Destiny’s maker the “creative independence” it’s relied on for so long. “This is a strategic step to continue to evolve the gaming experiences we are building,” Ryan said in his statement. “This partnership will bring inspiring new experiences to both the PlayStation community and the community that Bungie has built.”

Sony and Bungie did not immediately respond to requests for additional comment.

The deal is likely to spark even more discussion in the gaming industry, which has seen massive buying on games like the adventure title To fallthe social darling Kim Kardashian: Hollywood and mobile success candy Crush Saga.

With Bungie, Sony is effectively buying a massive game, Destiny, as well as the developer behind it. But Bungie is also an industry-defining developer, having created the space-age shooter Halo, which has become a multi-billion dollar franchise in games, books, TV shows, toys, and games. more since its launch in 2001.

Sony’s approach with Bungie is markedly different from other acquisitions. Wedbush Analyst Michael Pacher noted that when Microsoft purchased ZeniMax Media almost a year and a half ago, for about twice the price of Bungie, it also got a stable of over a dozen popular games to add to its lineup. “I think this purchase is more panic-driven than financial,” he said.

For its part, Sony told GamesIndustry.biz that the deal has been ongoing for nearly six monthsand that he plans further acquisitions in the future.

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