Sony Acquires Minority Stake in Epic for $250 Million

Sony has acquired a minority interest in Epic with a strategic investment of $250 million. The minority stake will mean that Sony and Epic will be able to collaborate more closely together in areas of games, entertainment, and technology. “Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations. There’s no better example of this than the revolutionary entertainment experience Fortnite,” Sony president and CEO Kenichiro Yoshida said in a statement. [ignvideo url="https://www.ign.com/videos/2020/05/13/ps5-unreal-engine-5-tech-demo"] “Throughout our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape,” Yoshida added. Epic founder and CEO Tim Sweeney added, “Sony and Epic have both built businesses at the intersection of creativity and technology, and we share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music. Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.” [widget path="global/article/imagegallery" parameters="albumSlug=unreal-engine-5-playstation-5-tech-demo&captions=true"] Sony and Epic worked together to unveil Epic’s Unreal Engine 5. The tech demo showcasing the new engine premiered running on the PlayStation 5, and although UE 5 will be coming to all next-gen consoles like the Xbox Series X, Sweeney praised the PS5’s unique technological advancements in SSD design. [poilib element="accentDivider"] Matt T.M. Kim is a reporter for IGN.