Epic Games secures $2 Billion

Epic Games, the company behind Fortnite, recently secured $2 billion from Sony and the company behind Lego as companies race to build metaverse solutions

Epic Games: Beyond Fortnite

Epic Games is the company behind Fortnite, which is one of the most successful games in recent times. Fortnite has generated billions of dollars and grown to become one of the most successful gaming franchises in history.

Recently, Epic Games finalized a fresh round of funding to enable it to build new products and offer new services.

Epic Games is headquartered in North Carolina, USA, and the company just got $1 billion each from Kirkbi and Sony. Kirkbi is the company behind the Lego franchise, while Sony is a globally recognizable technology brand.

$2 billion is a significant amount of money, and the deal values Epic at $31.5 billion, and as part of the deal, Kirkbi will own 3% of Epic while Sony will own 4.9% of the company. The investment announcement comes after Lego and Epic announced during the first week of April that both parties had entered into a” long-term partnership” to create a metaverse for children.

Tim Sweeney, the Founder and CEO of Epic Games, shared the following concerning the latest funding round, “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences, and creators can build a community and thrive.”

The investment by Sony was expected after Microsoft, one of the most prominent players in the gaming industry, acquired Activision Blizzard for $75 billion a couple of months ago.

Sony x Epic: Match made in heaven

After Microsoft’s acquisition, it was only a matter of time until Sony had to make a significant move. When we talk about gaming consoles worldwide, it’s a two-horse race between Microsoft’s X-box and Sony’s PlayStation, so these two entities are used to competing with each other.

More here.

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