And the gaming world introduces another powerful synergy that will potentially give birth to more entertaining video gaming franchises. According to a tweet made by both PlayStation and Bungie on July 15, 2022, Sony Interactive Entertainment LLC has finalized an acquisition deal which was officially made public at the beginning of the year, 2022.
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What exactly happens in an acquisition?
Typically, the acquiring company may opt to purchase part of its subsidiary’s shares and assets. In another scenario, the parent company can full take control of the company they’re interested in buying.
But how then does this play into the relationship between Bungie and Sony Interactive Entertainment?
As stated in the original publication made by Sony on January 31,2022, Sony intended to acquire Bungie for a whopping $3.6 billion. As part of their agreement, Bungie will join the PlayStation family while remaining an independent subsidiary. Meaning Bungie will continue doing what they love: developing video games.
Undoubtedly, Bungie will invest in hiring more developers to work on the ongoing Destiny Franchise and future projects. Hence, Bungie will spend $1.2 Billion of the agreed $3.6 billion to retain their current employees. Sony, on the other hand, will help Bungie achieve their long-term goals of entering the media entertainment business. Sony, on the other hand, expects Bungie to help them get into the Live Service Games where they plan on releasing ten of such games by 2026.
When both companies express their intent in January, gaming fans couldn’t hold back their thoughts on tweeter. Some believe Sony spent way beyond what the company net worth.
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Remember that this isn’t Bungie’s first acquisition story in the gaming industry. Microsoft had originally acquired Bungie in the early 2000s and used one of their famous Franchise Halo, Halo: Combat Evolved, as the launch title for Microsoft’s Xbox Console. However, their partnership officially ended by October 2007. By April 2010, Bungie partnered with another famous gaming company Activision and both released their first project Destiny in 2014.
With three decades of experience, Bungie is actively developing updates for Destiny 2. As of July 2022, Destiny 2 has released 17 Seasons, notwithstanding the eagerness to what the future holds, Bungie has been keeping their plans under wraps. Fans can expect two more instalments for the second part of the franchise: Lightfall in year six and The Final Shape in year seven, respectively.
