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PlayStation has completed its acquisition of Destiny studio Bungie
Sony announced in January that it planned to purchase the Halo creator in a $3.6 billion deal
Sony Interactive Entertainment (SIE) has completed its acquisition of Destiny studio Bungie.
“The agreement to acquire Bungie has closed,” the company said on Friday. “So now we can officially say… welcome to the PlayStation family.”
Sony announced in January that it intended to acquire Bungie in a deal worth $3.6 billion.
Destiny 2 Guardian Games 2022 trailer
Speaking in May, Sony CEO Kenichiro Yoshida said the company’s planned acquisition of Halo creator Bungie was partly motivated by a desire for PlayStation to become more of a multiplatform business.
“We believe it will be a catalyst to enhance our live game services capabilities,” he said. “Our acquisition of Bungie also represents a major step forward in becoming more multiplatform.”
In addition to its ongoing work on Destiny 2, Bungie has announced plans to bring at least one new IP to market before 2025.
It’s reportedly working on a new Destiny game for mobile in partnership with Chinese tech and gaming giant NetEase, which invested $100 million to become a minority shareholder in the Bellevue, Washington-based studio in 2018.
Sony also announced on Monday that it had completed its acquisition of Haven Studios, the Canadian developer co-founded by Assassin’s Creed co-creator Jade Raymond, for an undisclosed sum.
SIE CEO Jim Ryan said in May that the company was still on the hunt for new acquisition targets that could help grow the PlayStation business.
During its fiscal year ended in March 2022, SIE acquired five studios including Returnal developer Housemarque, PC port specialist Nixxes Software, UK-based Firesprite, Demon’s Souls remake studio Bluepoint, and Seattle-based Valkyrie.
It also invested in Discord, Devolver Digital and live service game platform AccelByte, while talks were then ongoing to acquire Bungie and Haven Studios.
Ryan said Sony expects half of its game releases to be on PC and mobile by its fiscal year ending in March 2026 and that acquisitions will likely be necessary to achieve this target.
“As we transition from our historic game development strategy to a much broader and much wider market reach than we enjoy today, it is very likely that inorganic stimulus will be required to help us to realise these dreams,” he said.
“And to the extent that potential targets fit with our strategy, to the extent that potential targets allow us to accelerate the way in which we are able to deliver on our strategy, we will certainly consider farther M&A activity to add to our business portfolio.”