TRENDING NOW: NASA's new James Webb Space Telescope photographs UFOs

Sony's $3.6 billion Bungie buyout is officially complete

Sony's massive $3.6 billion Bungie buyout deal has completed, the Destiny developer is now officially part of PlayStation.

@DeekeTweak
Published Jul 15, 2022 12:30 PM CDT   |   Updated Mon, Aug 8 2022 9:43 PM CDT

Sony's $3.6 billion buyout of Bungie has completed, and the studio is now part of the first-party PlayStation studios brand.

Sony's .6 billion Bungie buyout is officially complete 1 | TweakTown.com
VIEW GALLERY - 2 IMAGES

It's official: Bungie is a first-party PlayStation studio. "The agreement to acquire Bungie has closed. So now we can officially say... welcome to the PlayStation family, Bungie!" Sony's PlayStation account said.

Bungie will be one of Sony's most important studios and will help lead PlayStation into a new era of live service games. Sony wants to ship 12 live games by 2025, and Bungie will be instrumental in helping plan these games out; Sony has said it wants to "fully integrate Bungie expertise in all SIE processes," however Bungie will retain full creative freedom in the games it developers and publishes.

Bungie will review design/concepts, monetization & data, pre-production pipelines, and launch readiness/post-launch.

Sony's $3.6 billion Bungie buyout is officially complete 2 | TweakTown.com

"We are proud to officially join the incredible team at PlayStation. We are excited for the future of our company, and we are inspired to bring together players from all over the world to form lasting friendships and memories," Bungie said on Facebook.

As part of the deal, Sony is offering a $1.2 billion retention plan for Bungie employees. This part of the buyout was created to ensure as many of Bungie's critical developers stay with the team as possible.

The landmark deal was scrutinized by the Federal Trade Commission, who requested a Second Look in order to determine if the buyout was fair for the digital games market. The buyout deal was announced in January, and completed seven months later.

Buy at Amazon

Horizon Forbidden West Launch Edition - PlayStation 4

TodayYesterday7 days ago30 days ago
$39.99$39.99$59.00
* Prices last scanned on 8/12/2022 at 2:50 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:twitter.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.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles