Investment · Video games
Sony puts $1 billion into Fortnite maker Epic Games
- Investor
- Sony Group (Tokyo)
- In
- Epic Games, Cary, North Carolina
- Value
- $1B
- Status
- Announced April 2022, subject to customary closing conditions including regulatory approvals.
- Date
- 2022-04-11
Sony Group invested $1 billion in Epic Games as part of a $2 billion round, with LEGO's parent KIRKBI putting in the other $1 billion. The round valued Epic at $31.5 billion after the investment. Sony had already invested in Epic in 2020 and 2021.
Why it matters
Coming weeks after the Bungie deal, the stake deepens Sony's tie to Epic's Unreal Engine and its metaverse plans, which Sony sees as a base for games, music and film.
The round
Epic announced the $2 billion round on April 11, 2022. Sony invested through a wholly owned subsidiary for a minority stake, and KIRKBI, the LEGO Group's holding company, put in the other $1 billion. Counting $250 million in 2020 and $200 million in 2021, Sony had invested $1.45 billion in Epic.
What both sides said
Sony chief executive Kenichiro Yoshida said Sony was thrilled to deepen its relationship with Epic in the metaverse. He pointed to Epic's technology for sports fan experiences and virtual production in film. Epic chief executive Tim Sweeney said Epic needed partners who share its vision as entertainment changes.
What came next
Sony has not disclosed its exact stake, and reports give different figures. In February 2024, Disney agreed to invest $1.5 billion in Epic, adding another big media company to its shareholders.
Sources
Kakehashi M&A News home
