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Sony agrees $3.6 billion deal to buy video game maker Bungie

By Hugh Fort in Business News, posted February 1, 2022

Sony has agreed a huge deal to buy the video game maker Bungie, which has created huge franchises like Halo and Destiny.

The tech giant has agreed a deal to acquire the company, which has more than 900 staff and is based at Bellevue, Washington, for $3.6 billion.

Bungie will continue to operate independently, and will be able to self-publish and reach billions of gamers around the world.

Sony Interactive Entertainment (SIE) will now have access to what it calls the world-class approach to live game services" the company offers.

Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation, said: "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.”

“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.

Jim Ryan, President and CEO of SIE added: "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.

"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.”

What does Bungie say?

Pete Parson, CEO and chairman 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.

“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.”

Once the deal is complete, Bungie will be an independent subsidiary of Sony Interactive Entertainment 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.

The move follows Microsoft's $69 billion acquisition of Activision Blizzard in January.

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