Sony Adds $200 Million Strategic Investment Into Epic Games!!

Sony Group Corporation, a parent of Sony Music Group, has spent another $200 million on Epic Games, the United States company behind Fortnite.

Tokyo-based Sony’s purchase comes within a new 1 billion dollars funding round for Epic, approved on the 13th of April, which the latter company says to “support future growth opportunities”.

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“We are thankful to our new and existing investors who support our idea for Epic and the Metaverse,” CEO Tim Sweeney stated in a press release. “Their investment helps quicken the workaround building connected social events in Fortnite, Rocket League, and Fall Guys while enabling game developers and creators with Epic Online Services, Unreal Engine, and the Epic Games Store.”

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“It continues to deliver innovative experiences through their order of cutting-edge technologies that support creators in gaming and beyond the digital entertainment industry,” added Sony Corporation president and Chairman, Kenichiro Yoshida. “We’re excited to strengthen our collaboration to carry new entertainment experiences to people around the world. I firmly believe that this joins with our purpose to fill the world with emotion, through the power of technology & creativity.”

Additionally, a few other investors in the new $1 billion funding round in Epic Games include Baillie Gifford, Appaloosa, Fidelity Management & Research Company LLC, and GIC.

The round also involves accounts & funds proposed by T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, and funds and accounts operated by KKR, BlackRock, Park West, AllianceBernstein, Altimeter, including Luxor Capital.

Architects to have performed virtual concerts in the Fortnite Metaverse involve Travis Scott, Diplo, Steve Aoki, Marshmello, and Deadmau5. The Chinese giant funded 330 million dollars in Epic in 2012, some five to six years before Fortnite was delivered.

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It has to be netted Tencent a 41% stake in Epic, an equity part that – thanks to Epic’s newest funding round is worth approx $11.5 billion now.

Stay tuned for more latest updates!!

 

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