Sony Is Buying Bungie for Around $5 Billion in Latest Blockbuster Gaming Deal

Sony Is Buying Bungie for Around $5 Billion in Latest Blockbuster Gaming Deal
Image: Bungie/Twitter

Sony is reportedly acquiring Bungie for $US3.6 billion (that translates to around $5 billion) in the latest move of what has been a string of blockbuster purchases within the gaming industry.

Bungie is best known for developing Halo — the mega-popular franchise that put Sony’s rival, Xbox, on the map — as well as the first-person shooter franchise Destiny. The studio is currently working on expanding Destiny 2, its latest release while working on a new, unnamed IP set to launch in 2025.

“Bungie has created and continues to evolve some of the world’s most beloved video game franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation.

“As part of our Purpose to ‘fill the world with emotion, through the power of creativity and technology’, we will utilise the Sony Group’s diverse array of entertainment and technology assets to support further evolution of Bungie and its ability to create iconic worlds across multiple platforms and media.”

The news comes two weeks after Microsoft announced the purchase of Activision Blizzard for $US69 billion ($96 billion) — a deal that Sony fans feared would give Xbox an edge over the PlayStation. Acquiring Activision Blizzard gives Microsoft the rights to some of the popular franchises, including Overwatch, Call of Duty, and Starcraft.