Sony Interactive Entertainment announces the acquisition of Bungie, the US-based creator of Destiny and Halo, according to a press release by Sony on Monday.
- The $3.6 billion transactions are the recent massive deal in an industry whereby major players are pushing to snap up popular titles and talent.
- The Washington-based creator Bungie hires more than 900 people. Bungie was previously worked with Sony to bring content to the PlayStation game systems.
- Kenichiro Yoshida, Sony Chairman and CEO, stated that they will use Sony Group’s diverse range of entertainment and technology assets to support the evolution of Bungie.
- The industry has seen a wave of high-profile acquisition deals. Microsoft announced in January the purchase of Activision Blizzard for $68.7 billion. The growth of the video game industry and structural changes with it are encouraging such huge deals.
The industry generated overall revenue of nearly $180 billion in 2021. The number of games rose to 3 billion from 2.2 billion five years ago. Sony Group Corp. up +0.39%