Sony announced today that it has invested $250 million in Epic Games. What this means is that the Japanese gaming console maker now owns a minority stake in the video game developer.
The companies said the goal of the investment is to expand their collaboration that spans the entertainment assets and technology of Sony as well as Epic's "social entertainment platform and digital ecosystem". In the long run, the move aims to produce new experiences for both the consumers and creators.
Kenichiro Yoshida, Chairman, President and CEO of Sony Corporation, said:
“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. 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."
Tim Sweeney, Founder and CEO of Epic, added that both companies "share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music." The investment is one of the few instances in which Sony and Epic demonstrate a close alliance. In May of this year, Epic showed the upcoming Unreal Engine 5 graphics running on a PlayStation 5 for the first time.
That said, Epic's titles will still be available on other platforms other than the PlayStation, the studio confirmed to VentureBeat. The deal isn't complete at this moment, however, since it's still pending typical closing conditions including regulatory approvals.