January 31, 2022
Sony Interactive Entertainment Jan. 31 announced it has entered into definitive agreements to acquire independent video game developer Bungie, whose properties include the “Halo” and “Destiny” franchises, for $3.6 billion.
The deal aims to give Sony access to Bungie’s approach to live game services and technology expertise. Bungie will continue to operate independently.
Based in Bellevue, Wash., with more than 900 employees, Bungie is currently focused on the long-term development of Destiny 2, expanding the Destiny universe, and creating entirely new worlds in future IP.
“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,” Jim Ryan, president and CEO of SIE, said in a statement.
Ryan said the transaction is an important step in Sony’s strategy to expand the reach of PlayStation system to wider audiences.
“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,” he said.
Post-acquisition, 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.
“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,” said CEO Pete Parsons.
The executive believes the deal will unlock more than just new gaming properties.
“Our original universes have immense potential, and, with Sony’s support, we will propel Bungie into becoming a global multi-media entertainment company dedicated to delivering on our creative vision” Parsons said.