Sony to acquire Destiny developer Bungie for $3.6B
Monopoly is more than just a board game: Destiny and Halo creator Bungie has entered an agreement to be brought under Sony ownership in a transaction worth $3.6 billion.
The basics: Bungie is the developer behind Destiny and originally brought Halo to life.
- The deal is worth $3.6B but isn't closed yet, both parties have signed a definitive agreement.
- A press release states Bungie will operate independently and reach players "wherever they choose to play".
- Bungie has over 900 employees and is focused on expanding the Destiny franchise, as well as creating "entirely new worlds".
The war rages on: This agreement follows quickly on from industry-rattling announcements from Microsoft, Take-Two, and the Saudi Arabian monarchy.
- Microsoft is set to acquire Activision Blizzard for $69B in 2023.
- Take-Two Interactive, the publisher behind Rockstar and 2K Games, is looking to acquire developer Zynga in a $12.7B deal.
- ESL and FACEIT, two major esports companies, are set to be acquired for $1.5B by Savvy Gaming Group, an entity that's financially backed by Saudi Arabia's Public Investment Fund.
The future: The ever-changing gaming landscape is filled with questions that nobody has the answers to just yet.
- What plans does Bungie have that has made Sony keen on spending billions to bring the developer in-house?
- What will the next big gaming acquisition be? Corporations are evidently bolstering their portfolios as games-as-a-service models are proving to provide long-term, recurring revenue.
- On whether Destiny 2 or other in-house titles will go PlayStation-exclusive, Bungie CEO Pete Parsons said: “We will continue to independently publish and creatively develop our games."