SONY ACQUIRES MINORITY STAKE IN EPIC GAMES

Sony has announced it will acquire a minority interest in Epic Games through a wholly-owned subsidiary of Sony, in an investment deal worth $250 million, according to a report from ZDNet

According to Sony, the investment, which is subject to regulatory approval, further cements an existing relationship between the two companies and would allow them both to broaden their collaboration on technology, entertainment, and socially-connected online services.

"Epic's powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. There's no better example of this than the revolutionary entertainment experience, Fortnite," Sony chairman, president, and CEO Kenichiro Yoshida said.

"Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape."

Epic founder and CEO Tim Sweeney added that the pair would work on expanding their digital ecosystem for consumers and content creators.