Lego and Sony pump $2B investment into Epic Games

Lego and Sony pump $2B investment into Epic Games

Chloe Frazer and Nathan Drake, stars of Sony Interactive Entertainment’s Uncharted franchise, as they appear in Epic Games Fortnite.Image: Epic Games via YouTube
Sony and the company that controls Lego have both invested $1 billion in Epic Games, the fortnite manufacturer announced on Monday. The news comes four days after Epic and Lego said they were teaming up to create a family metaverse.
Kirkbi, which is the holding company that owns The Lego Group, invests money in Epic, so this is not direct funding for this metaverse project. Sony’s investment triples its stake in Epic Games, on top of the $250 million it invested in Epic in 2020 and the $200 million it added a year later.
“We are also confident that Epic’s expertise, including its powerful game engine, combined with Sony’s technologies will accelerate our various efforts,” Sony Chief Executive Kenichiro Yoshido said in a statement provided by Epic. Epic Games released Unreal Engine 5 a week ago.
For his part, Kirkbi’s managing director, Søren Thorup Sørensen, noted that “part of our investments are focused on trends that we believe will impact the future world in which we and our children will live.” The $1 billion stake aligns with that mission, Sørensen said.

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The investment and executive statements all align with Epic’s broader strategy of defining and administering the “metaverse,” a concept that Facebook, Microsoft and others have clung to for the past four years. . Epic’s “metaverse” has largely taken place within fortnitewhere third-party marketers regularly collaborated on themed skins and other virtual items, or held virtual events like trailer previews or concerts.
Epic CEO and Founder Tim Sweeney said in the same statement that “this investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can create creative and immersive experiences, and creators can build community and thrive.”
Monday’s statement says Epic Games is now valued at $31.5 billion, up an additional $3 billion from last year’s buy-ins. The company noted that Epic, whose shares are privately held, remains controlled by Sweeney.

#Lego #Sony #pump #investment #Epic #Games

Lego and Sony pump $2B investment into Epic Games

Chloe Frazer and Nathan Drake, stars of Sony Interactive Entertainment’s Uncharted franchise, as they appear in Epic Games Fortnite.Image: Epic Games via YouTube
Sony and the company that controls Lego have both invested $1 billion in Epic Games, the fortnite manufacturer announced on Monday. The news comes four days after Epic and Lego said they were teaming up to create a family metaverse.
Kirkbi, which is the holding company that owns The Lego Group, invests money in Epic, so this is not direct funding for this metaverse project. Sony’s investment triples its stake in Epic Games, on top of the $250 million it invested in Epic in 2020 and the $200 million it added a year later.
“We are also confident that Epic’s expertise, including its powerful game engine, combined with Sony’s technologies will accelerate our various efforts,” Sony Chief Executive Kenichiro Yoshido said in a statement provided by Epic. Epic Games released Unreal Engine 5 a week ago.
For his part, Kirkbi’s managing director, Søren Thorup Sørensen, noted that “part of our investments are focused on trends that we believe will impact the future world in which we and our children will live.” The $1 billion stake aligns with that mission, Sørensen said.

Related

Fortnite is a social platform, and it’s borrowing Facebook’s best tricks
The investment and executive statements all align with Epic’s broader strategy of defining and administering the “metaverse,” a concept that Facebook, Microsoft and others have clung to for the past four years. . Epic’s “metaverse” has largely taken place within fortnitewhere third-party marketers regularly collaborated on themed skins and other virtual items, or held virtual events like trailer previews or concerts.
Epic CEO and Founder Tim Sweeney said in the same statement that “this investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can create creative and immersive experiences, and creators can build community and thrive.”
Monday’s statement says Epic Games is now valued at $31.5 billion, up an additional $3 billion from last year’s buy-ins. The company noted that Epic, whose shares are privately held, remains controlled by Sweeney.

#Lego #Sony #pump #investment #Epic #Games