January 28, 2023

Dubai Week

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Sony buys Hollow-created punk for $ 3.6 billion

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Bungee, the original creator of Hollow and Destiny’s developer, has announced the acquisition of Sony Interactive Entertainment for $ 3.6 billion in a series of recent merger deals in the video game industry.

The US company said in a blog post that Benji will be joining the Sony PlayStation family, this time working to strengthen the network of popular game makers such as the Japanese team (Spider-Man). Lots of money.

Microsoft, whose Xbox game console sales are much lower than Sony’s PlayStation, paid $ 69 billion to its Call of Duty maker Activision Blizzard in January.

“While this is one of the biggest acquisitions Sony has ever made, Microsoft’s payoff shows fierce competition in the industry,” said Pierce Harding Rolls, a gaming analyst at Ampere Analytics.

Prior to becoming a private company in 2007, Benji, based in Microsoft-owned Washington, D.C.

Benji is currently planning to hire more talent for the previously released video game Destiny 2 by Activision Blizzard.

As these companies look for new revenue, the video games industry is seeing a flurry of merger deals to take advantage of the increased demand caused by the epidemic, with new deals reducing taxes between computer game companies and mobile game makers.

The sector is on track to set a new record of $ 150 billion in contracts, finance and IPOs this year, according to investment banking firm Drake Star Partners.

“This (funky deal) is an important step in our strategy to expand the PlayStation to a wider audience,” said Jim Ryan, head of the Sony Corp division responsible for PlayStation.

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Benji will be an independent unit of Sony Interactive Entertainment and will be managed by its Board of Directors headed by CEO Pete Parsons.