Fortnite Creator Epic Games Gets $250 Million Investment From Sony

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Epic Games, the creator of the popular video game Fortnite, said on Thursday it had received a $250 million (roughly Rs. 1,880 crores) investment from Japan’s Sony for a minority stake in the company.

Last month, Bloomberg reported that Epic was close to raising a $750 million (roughly Rs. 5,641 crores) round of funding, from investors including T Rowe Price Group Inc and Baillie Gifford, at a valuation of about $17 billion (roughly Rs. 1.27 lakh crores).

Epic, which also developed the game engine Unreal, in 2018 received $1.25 billion (roughly Rs. 9,403 crores) in funding from investors, including KKR.

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.”

© Thomson Reuters 2020

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