Destiny developer to join SIE in next M&A shot
Things continue to be wild in the video game industry. Sony has just announced that it is purchasing Bungie, developers of the Destiny and Marathon series and once longtime stewards of Halo, for $3.6 Billion. The news comes hot on the heels of Microsoft’s $68.7 Billion purchase of Activision Blizzard King two weeks ago. The timing may also be relative to the potential for rate increases to help curb inflation, which means the relative value of the dollar spend could be different if the companies wait.
The blog post by Jim Ryan reveals a few details, notably that Bungie will remain an independent studio within SIE, and continue to develop projects across platforms. It will continue to have the option to self-publish as well.
Bungie is working on several projects at the moment, including the Destiny 2 expansions and a brand new IP. While those games will be multi-platform, it’s unknown what they may want to do beyond that. In fact, it’s likely that we won’t see the ramifications of these purchases for a couple of years yet, as these acquisitions will take some time to spin up projects.