Sony Interactive Entertainment LLC (“SIE”) on Monday welcomed Bungie in the PlayStation family, as it entered into an agreement to acquire the leading independent videogame developer.
For those unaware, Bungie is the videogame developer behind two of gaming’s highly-acclaimed franchises, including Halo and Destiny.
“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. This is an important step in our strategy to expand the reach of PlayStation to a much wider audience,” said Jim Ryan, President & CEO of SIE.
“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.”
Bungie will continue to operate independently, maintaining the ability to self-publish and reach players wherever they choose to play. The total consideration of the acquisition is 3.6 billion U.S. dollars, which includes the purchase price and committed employee incentives, and is subject to customary working capital and other adjustments.
“Bungie has created and continues to evolve some of the world’s most beloved videogame 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 CEO, Sony Group Corporation.
“As part of our Purpose to ‘fill the world with emotion, through the power of creativity and technology’, we will utilize 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.”
Talking about the acquisition, Pete Parsons, CEO and Chairman, Bungie said, “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.”
He further added, “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 multi-media entertainment company dedicated to delivering on our creative vision.”
Following the 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.
SIE’s announcement of acquiring Bungie follows Take-Two’s $12.7 billion agreement to buy Zynga and Microsoft’s $68.7 billion deal to acquire Activision Blizzard.