SEE acquires Bungie, known for "Destiny" and other titles, comments

Sony Interactive Entertainment (SIE) has acquired the world's leading independent game developer and longtime partner, Bungie, Inc. in a definitive agreement.

Bungie is the developer of several of the gaming industry's most acclaimed game series, including "Halo" and "Destiny". The acquisition will give SEA access to Bungie's world-class approach to live gaming services and technical expertise, furthering SEA's vision of connecting billions of players.

Bungie will continue to operate as an independent studio, providing game titles to players across platforms through its own publishing.

Based in Bellevue, WA, with over 900 employees, Bungie is known for creating memorable and ever-evolving worlds centered around high-quality gameplay experiences that foster meaningful connections between players. Currently, Bungie's development team is focused on the long-term development of the highly successful Destiny 2 and the expansion of the Destiny universe, as well as the creation of entirely new worlds with new IP.

The consideration for the acquisition, including the share acquisition consideration and committed employee incentive payments, is US$3.6 billion and will be subject to certain working capital and other adjustments.

Kenichiro Yoshida, Chairman and CEO of Sony Group Inc.
Bungie has a proven track record of developing multiple game series that are loved by many users and continue to evolve. And by approaching the motivation of users who want to enjoy games with others, we continue to create a world that brings millions of users together. To fulfill Sony's purpose of "filling the world with excitement through the power of creativity and technology," we will leverage the Sony Group's diverse and powerful entertainment businesses and technologies to further advance Bungie and its ability to create iconic worlds regardless of platform or media. We will strongly support Bungie's further evolution and its ability to create iconic worlds across platforms and media.

■Jim Ryan, President and CEO, SEA commented
Since the birth of the Destiny series, we have built a strong partnership with Bungie. I am very pleased to officially welcome Bungie to the PlayStation family. This is an important step in our strategy to further expand the PlayStation community. Like Bungie, our community is at the heart of PlayStation's DNA, Like Bungie, our community is at the heart of PlayStation's DNA, and our passion for our players and building the 'best place to play' will only continue to evolve.

Pete Parsons, Chairman and CEO, Bungie
SEE has been a strong partner in supporting us and helping us accelerate our vision of creating valuable entertainment experiences for generations to come, while at the same time respecting the development independence that is so important to Bungie," said Pete Parsons, Bungie Chairman and CEO. We value community and will continue to pursue our vision of creating a single, unified Bungie community through the creation of games that players can play in a variety of ways, across platforms. We believe that our IP is only the first form of our IP. Our creative universe has immense potential, and with the support of SIE, we will drive Bungie to become a global multimedia entertainment company committed to realizing our creative vision.

*All rights reserved.

Following the Acquisition, Bungie will be an independent subsidiary of SIE, operated by a Board of Directors chaired by Pete Parsons and Bungie's current management team. Completion of the Acquisition is subject to, among other things, receipt of approvals and permits from the relevant authorities.