Sony bought a minority stake in Epic Games for $250 million through a wholly owned subsidiary. VentureBeat reported the stake at about 1.4%, valuing Epic at roughly $17.9 billion; the companies did not confirm those figures. The two said they would work together on games, entertainment and Epic's Unreal Engine technology. About Epic Epic Games was founded in 1991 and is based in Cary, North Carolina. It makes Fortnite and licenses Unreal Engine, a set of tools other studios use to build games. Its earlier backers included Tencent, KKR and Vulcan Capital. What Sony said Sony chief executive Kenichiro Yoshida said the companies would look for ways to work together "not only in games, but also across the rapidly evolving digital entertainment landscape." Two months earlier, Epic had shown Unreal Engine 5 for the first time in a demo running on Sony's PlayStation 5.
