Sony Completes Deal To Acquire Destiny Developer Bungie
Sony has completed the deal to acquire Destiny developer and publisher Bungie, beefing up its growing stable of first-party studios.
The two companies announced the news on Twitter, finalising the previously reported deal in January, which was worth US$3.6 billion. The SEC filing, however, indicates that the deal is actually worth “approximately” US$3.7 billion.
According to TechCrunch, the deal went relatively smoothly and didn’t run into any regulatory resistance. In contrast, Microsoft’s bid to acquire Activision-Blizzard last year for close to US$69 billion was probed by antitrust watchdogs in the UK earlier this month. Microsoft expects to complete the deal by fiscal year 2023, which could be as early as next month.
Bungie CEO Pete Parsons notes in a blog post that despite the studio’s new partnership with Sony PlayStation, it’ll continue to develop and publish games independently.
In line with this, its future releases won’t be PlayStation exclusives, meaning players on other systems can get them as well. The studio’s most popular game, Destiny 2, for example, won’t be impacted by the acquisition. The game will continue to be supported with new content expansions and software updates across all the systems it’s available on.
Mr Parsons adds the most immediate change for the studio is hiring more talent for various projects, including the aforementioned Destiny 2 and “new worlds beyond”.
Sony reportedly plans to leverage Bungie’s expertise in online multiplayer experiences to help it launch over a dozen in-house live service games by March 2026. Live service is a type of game that is designed to keep players engaged for as long as possible through regular content drops, live events and long-term support. The business model of such games typically involves developers and publishers monetising the content they release after the initial game’s launch. These can, for instance, come in the form of cosmetics for your avatar or a monthly subscription for access to new features.
“Bungie’s world-class expertise in multi-platform development and live game services will help us deliver on our vision of expanding PlayStation to hundreds of millions of gamers,” said Sony Interactive Entertainment CEO Jim Ryan in January.
While Sony has yet to detail its live service plans, it’s perhaps safe to expect the company to capitalise on the popularity and success of properties like The Last of Us, God of War and Horizon, among others, in its ambitious vision to bring new multiplayer experiences to PlayStation.
Sony has completed the deal to acquire Destiny developer and publisher Bungie for US$3.6 billion.
Bungie said despite its new partnership with Sony PlayStation, it'll continue to develop and publish games independently.
The PlayStation maker reportedly plans to leverage Bungie’s expertise in online multiplayer experiences to help it launch over a dozen in-house live service games by March 2026.