Sony invests ¥27 billion in Fortnite and Unreal Engine developer Epic Games

Epic Games, creator of the popular video game Fortnite and the mobile app Houseparty, said Thursday it had received a $250 million (¥27 billion) investment from Sony Corp for a minority stake in the company. Sony, maker of the PlayStation, didn't disclose the price it paid for stock in the privately held company. Last month, it was reported that Epic was close to raising a $750 million round of funding, from investors including T. Rowe Price Group Inc and Baillie Gifford, at a valuation of about $17 billion. Epic, which also develops the game engine Unreal, received $1.25 billion in funding in 2018 from investors including KKR & Co Inc. Fortnite has been an influential force in games and culture over recent years. The game had more than 350 million players as of April, benefiting from the influx of people spending more time at home during the coronavirus pandemic.