Sony has agreed to acquire video game developer Bungie for $3.6 billion, the latest in a series of takeovers in the video game industry.
The company's move comes shortly after Microsoft’s announcement that it intends to acquire Activision Blizzard in a deal worth $68.7 billion.
Bungie is a privately held company based in Washington, and it is the developer of Destiny and the original creator of Halo, a series that has provided some of the biggest ever hits for rival Microsoft’s Xbox system. Bungie was acquired by Microsoft in 2000 and split from that company in 2007.
“Bungie has created and continues to evolve some of the world’s most beloved video game franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Kenichiro Yoshida, chairman, president and CEO of Sony.
According to a statement issued by Bungie, the video game developer will continue to operate independently within Sony.
