Sony offers Bungie employees $1.2 billion retention incentive plan

Sony is offering Bungie employees a $1.2 billion incentive program in an effort to keep them at the company following the buyout.

@DeekeTweak
Published Wed, Feb 2 2022 3:02 PM CST   |   Updated Tue, Mar 1 2022 8:30 PM CST

Sony's $3.6 billion acquisition of Bungie includes a hefty incentive program for the Destiny-maker's workers.

Sony offers Bungie employees .2 billion retention incentive plan 77 | TweakTown.com
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In its recent Q3'21 earnings report, Sony confirmed it plans to spend a sizable portion of its Bungie buyout offer on retention. Sony says it is prepared to pay 1/3rd of its $3.6 billion buyout proposal, or roughly $1.2 billion, on a long-term incentive plan that will reward Bungie employees who stay with the company.

Sony will pay the remainder $2.4 billion for a direct buyout of Bungie's private shares. The bonus is aimed at keeping Bungie's current staff intact after the acquisition.

Deferred payments are planned across multiple years following the buyout closure. The company is prepared to pay about $792 million in deferred incentive payments in the first two years after the deal ends.

Bungie will have unprecedented freedom under Sony, enjoying full creative execution while remaining independent to self-own, publish, and release its games across all platforms.

Sony offers Bungie employees $1.2 billion retention incentive plan 663 | TweakTown.com

Read more about Sony's $3.6 billion Bungie buyout

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NEWS SOURCE:sony.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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