Sony Invests Heavily Into Epic Games, Creator Of Fortnite
As they take on Apple in a court case regarding the tech giant’s monopolistic tendencies, Fortnite developer Epic Games have completed yet another billion-dollar (AUD$1.31 billion) round of funding, giving the company an equity valuation of a cool AUD$37.6 billion.
The latest round of funding saw a AUD$261.5 billion injection from Sony, as well as smaller investments from a number of companies, including Park West, Franklin Templeton, Baillie Gifford, and Appaloosa.
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,” said CEO and founder Tim Sweeney in a statement.
“Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store.”
Epic recently acquired Mediatonic, the makers of Fall Guys. Sony’s hefty investment in the company will no doubt give Epic extra market strength.
“Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry,” said Sony Group Corporation CEO Kenichiro Yoshida.
“We are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology.”