Sony to invest in Bungie for $3.6 billion immediately after Microsoft offer for Activision

In the latest episode of “The Console Wars,” Sony Corp. is attempting to purchase videogame publisher Bungie for $3.6 billion.

“We’ve had a powerful partnership with Bungie due to the fact the inception of the Destiny franchise, and I couldn’t be additional thrilled to formally welcome the studio to the PlayStation family members,” Sony Interactive Leisure president and chief government Jim Ryan mentioned in a statement. “This is an important stage in our strategy to expand the access of PlayStation to a much broader viewers.”

Bungie, which publishes the “Destiny” franchise, announced on its web page Monday that it would be joining PlayStation, stating “we have found a lover who unconditionally supports us in all we are and who wishes to accelerate our eyesight to produce technology-spanning amusement, all when preserving the creative independence that beats in Bungie’s heart.”

Bungie was the studio that originally developed “Halo,” one particular of the major special game titles on Microsoft’s Xbox in its early times. Microsoft obtained Bungie in 2000, but finally spun out the publisher on its very own.

American depositary receipts of Sony
SONY,
+4.51%
rallied as significantly as 6% Monday, though shares on the Nikkei
6758,
+1.57%
have been up 4%.

In an FAQ web site, Bungie claimed that “Destiny 2” would proceed to be supported on not only Sony’s PlayStation but on Microsoft Corp.’s
MSFT,
+.88%
Xbox console and Alphabet Inc.’s
GOOG,
+1.81%

GOOGL,
+1.46%
Stadia.

The announcement arrives on the heels of Microsoft’s announcement it would obtain videogame publisher Activision Blizzard Inc.
ATVI,
-.16%
for $69 billion, which analysts experienced forecast would final result in an M&A wave. Microsoft has also explained that it will proceed to develop common videogames these kinds of as “Call of Duty” for the PlayStation and other platforms.

Also in January, Get-Two Interactive Inc.
TTWO,
+2.90%
introduced that it would receive Zynga Inc.
ZNGA,
+4.61%
for $12.7 billion.