News Short: Epic Games gets $250 million investment from Sony

Platform News: Gaming industry and popular games platforms

Epic Games, the creator of the popular video game “Fortnite”, said on Thursday it had received a $250 million investment from Japan’s Sony Corp for a minority stake in the company.

Last month, Bloomberg reported that Epic was close to raising a $750 million round of funding, from investors including T. Rowe Price Group Inc and Baillie Gifford, at a valuation of about $17 billion.

Epic, which also developed the game engine “Unreal”, in 2018 received some $1.25 billion in funding from investors, including KKR & Co Inc.

Sony is all set to launch its next-generation console PlayStation 5 later this year, with titles including Ubisoft’s “Assassin’s Creed Valhalla” and Rockstar Games’ “Grand Theft Auto V.”

Via our content partners at Thomson Reuters. Reporting by Ayanti Bera in Bengaluru. Editing by Aditya Soni.

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