Sony to buy video game maker Bungie in $3.6 billion deal as video game consolidation heats up

A player plays the video game “Destiny 2” developed by Bungie Studios and published by Activision during “Paris Games Week” on October 31, 2017 in Paris, France.

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Sony Interactive Entertainment has agreed to acquire privateer video game developer Bungie for $3.6 billion, adding to a wave of video game consolidation this month.

Bungie is the company behind the multiplayer shooters Destiny and Halo, the latter being developed until 2010. Bungie was acquired by Microsoft in 2000 and spun off from Microsoft in 2007.

Although smaller than Take-Two Interactive’s $12.7 billion deal for Zynga and Microsoft’s $69 billion acquisition of Activision Blizzard this month, Sony is acquiring the company which, along with Halo , helped launch Microsoft’s first Xbox in 2001. All three deals were announced this month. Tech companies are taking an increasing interest in gaming as they seek to expand their audiences and prepare for future iterations of virtual and augmented reality devices.

Sony shares were up about 4.3% for the day at 1:30 p.m. ET.

Bungie will continue to operate independently within Sony, according to a press release. The video game developer the most recent achievement is Destiny 2, which will continue to be offered on multiple platforms. The Halo franchise has been developed by Microsoft’s 343 Industries since 2011. Its latest game, Halo Infinite, launched on Xbox and Windows in 2021.

“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 gaming experiences, they unite millions of people around the world,” said Kenichiro Yoshida, Chairman and CEO. , Sony Group Corporation, in a statement.

Sony Interactive Entertainment, which develops PlayStation and is based in San Mateo, California, is a subsidiary of Sony Group Corporation.

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