How did Sony pay for Bungie?

The developer behind Destiny is now a part of the Sony universe. Sony Interactive Entertainment officially closed on a $3.6 billion deal today to buy the independent game studio and publisher Bungie, according to tweets from both Bungie and PlayStation Studios

PlayStation Studios

PlayStation Studios (formerly SCE Worldwide Studios and SIE Worldwide Studios) is a division of Sony Interactive Entertainment (SIE) that oversees the video game development at the studios owned by SIE. The division was established as SCE Worldwide Studios in September 2005 and rebranded as PlayStation Studios in 2020.

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PlayStation Studios - Wikipedia

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Why did Sony pay so much for Bungie?

PlayStation boss Jim Ryan was open with GamesIndustry.biz that “the way people play games has changed a lot over the last few years,” and that Sony looks at Bungie as a way to “significantly decrease the time it will take to get it right” with regards to live-service, multiplatform gaming.

Did Sony vastly overpaid for Bungie?

Sony 'vastly overpaid' with $3 billion buyout of Bungie, a developer that may make $200 million in revenues a year, analyst says. Sony has "vastly overpaid" with its $3 billion buyout of Bungie, analyst Michael Pachter says. Sony's decision to buy Bungie was a knee-jerk reaction to its competitors making power plays.

When did Sony purchase Bungie?

Sony announced that it was going to acquire Bungie in February 2022 for $3.6 billion, but the SEC filing for the completed deal from July 15 notes that the total price was "approximately $3.7 billion."

Who bought Bungie before Sony?

Microsoft acquired Bungie in 2000, and its project Halo: Combat Evolved was repurposed as a launch title for Microsoft's Xbox console.

This Might be the End for Halo (The State of Microsoft & the Halo Franchise)

Why did Bungie stop making Halo?

Bungie stepped away from Halo and its publisher, Microsoft, in 2007, in order to push forward in the industry rather than be tied to a franchise that had found success at the start of the century, according to community manager David "DeeJ" Dague.

Why did Bungie sell Halo to 343?

Bungie wanted to be an independent company. Since Microsoft owned Halo, Bungie had to give it up in order to achieve that goal. Therefore, 343 Industries was created to continue the game.

Did Bungie sell the rights to Halo to Microsoft?

Although Bungie created the Halo franchise and made the first handful of games, rights to the franchise still belong to Microsoft. Bungie began work on the original Halo in 1997, but Microsoft purchased the studio while the game was still in development, acquiring the IP in the process.

Who owns Halo now?

Halo is a military science fiction media franchise, originally developed by Bungie and currently managed and developed by 343 Industries, part of Microsoft's Xbox Game Studios.

Why did Sony want Bungie?

But Sony does plan to lean on Bungie for its “world-class expertise in multi-platform development and live game services,” which “will help us deliver on our vision of expanding PlayStation to hundreds of millions of gamers,” Sony Interactive Entertainment president and CEO Jim Ryan said in January.

What happens if Sony buys Bungie?

Sony will pay $3.6 million to acquire Bungie. Once the deal is closed, "Bungie will operate as an independent subsidiary" of Sony Interactive Entertainment. This means that the company will be led by a board consisting of Pete Parsons, current CEO and president of Bungie, and by the rest of the current team management.

Is Destiny 2 profitable?

The most profitable free Steam games in 2022 have been revealed, with Destiny 2 and Apex Legends making Valve's list, alongside other, premium top earners such as Call of Duty, GTA 5, FIFA 23, Total War, and a few surprise entrants over the past 12 months.

Does Bungie still get royalties for Halo?

No, Bungie does not own the Halo franchise rights. Those rights are held by Microsoft and the new games are being developed by 343 Industries .

Why did Sony buy Halo?

So then, what pushed the PlayStation (PS) maker to buy the studio? A slice of the answer lies in the comment made by Sony Interactive Entertainment (SIE), “Bungie purchase will give SIE access to its live game services and technology expertise, allowing SIE to reach billions of players”.

Will there be a Destiny 3?

Bungie Is Supporting Destiny 2 For The Long Haul, And There's No Room For Destiny 3. Furthermore, it's important to note that Bungie has already stated that there are no plans for Destiny 3 at the moment, and it's unclear if they have any plans for future releases beyond Destiny 2.

Why did Xbox not buy Bungie?

Microsoft wanted to buy them at under 2 Billion, also wanted exclusivity. Sony was willing to give them 3.6 and complete freedom on where to publish. If the details about the deal are accurate, Bungie really won this deal and Sony kind of got screwed.

What will Microsoft do with Halo?

“Halo and Master Chief are here to stay,” studio head Pierre Hintze said. “343 Industries will continue to developer Halo now and in the future, including epic stories, multiplayer, and more of what makes Halo great.” According to Spencer, the layoffs were an effort by Microsoft to position 343 for the future.

Is Microsoft done with Halo?

Microsoft Corp. says it's going to keep making new games in the popular Halo franchise at its prized 343 Industries studio — despite rumors to the contrary. But after a leadership overhaul, mass layoffs and a host of big changes, the outfit is all but starting from scratch.

Will Bungie ever return to Halo?

They wanted to work on something else. Microsoft effectively would not let them separate themselves from MS with Halo, so to separate they made a deal with MS - sell Halo and they could do what they wanted. They even made a literal declaration of independence. Bungie is not coming back, and never will, and never could.

Why didn t Sony get Halo?

Sony recently acquired Bungie, the makers of the original Halo games. Bungie and Halo parted ways in 2012 and Microsoft has owned Halo ever since.

Did 343 ruin Halo?

343 Industries has shepherded the Halo series for over ten years. Despite its great start with Halo: Combat Evolved Anniversary, the studio has failed to return the franchise to its original glory. Everything shared here illustrates 343's mismanagement of Xbox's once-flagship franchise.

Why did Xbox let Bungie go?

Bungie Split from Microsoft due to internal conflict within the company. They wanted to move on from halo, and felt that Microsoft would leave it in good hands. They also felt that they improved from a small studio, and now had the resources to go and make it on their own without the support of anot...

What did Bungie think of Halo Wars?

"Another problem was that Bungie was never up for it... Bungie was kind of sore about the idea. What they called it was 'the whoring out of our franchise' or something. Yeah, that didn't create a great relationship between us and Bungie; they viewed us as someone infringing [on their franchise]," he noted.

What does 343 mean in Halo?

343 Industries is a subsidiary of Xbox Game Studios located in Kirkland, Washington. It is tasked with overseeing the Halo franchise and creating new properties for the series. The team's name is a reference to 343 Guilty Spark, the monitor of Installation 04.

When did Bungie lose Halo?

Microsoft acquired Bungie in 2000, and its signature title, Halo, helped turn Microsoft's Xbox console into a major game platform. But the developer split from Microsoft in 2007 and stopped making Halo three years later. Since 2011, Halo has been developed by 343 Industries, a company owned by Microsoft.