Sony Invests $250 Million in the Maker of “Fortnite”
Sony (NYSE: SNE) recently acquired a minority stake in Epic Games, the publisher of Fortnite, for $250 million. The deal grants Sony a 1.4% stake in Epic and values the company at $17.86 billion, up from a valuation of roughly $17 billion after its last funding round in June.
Sony's investment sounds significant, but it remains dwarfed by two larger stakeholders. Epic's founder and CEO Tim Sweeney retains over 50% of his shares, while Chinese tech giant Tencent (OTC: TCEHY) acquired a 40% stake in Epic for just $330 million eight years ago.
Image source: Epic Games.
Source Fool.com
