:Sony Interactive Entertainment will acquire Bungie Inc, the original creator of the"Halo" videogame, in a deal valued at $3.6 billion, making it the latest in a wave of consolidations sweeping the gaming sector.
"While this is one of Sony's biggest ever acquisitions, the amount paid by Microsoft puts into context the heavy competition faced in this sector," said Piers Harding-Rolls, gaming analyst at Ampere Analysis. The video game space is consolidating rapidly to tap a surge in demand created by the pandemic, with new deals blurring the lines between PC and mobile gaming companies as these firms hunt for new revenue streams.
Big names companies have also been trying to bring talent and intellectual property behind popular titles in-house rather than partnering with studios, giving them more access in a growing, high-value market.