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July 9, 2020, 2:38 p.m. EDT

Sony invests $250 million in 'Fortnite' publisher Epic Games

Sony Corp. (NYS:SNE) (TKS:JP:6758) said Thursday it invested $250 million in Epic Games Inc., the publisher of the popular video game "Fortnite," for a minority stake. Prior to Sony's investment, Cary, N.C.-based Epic has received $1.6 billion in funding from investors, according to Crunchbase, which lists lead investors as Tencent Holdings (HKG:HK:700) , Kohlberg Kravis Roberts, and Vulcan Capital. Back in 2012, Tencent invested $330 million for a 40% stake in Epic. "Epic's powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations," said Kenichiro Yoshida, Sony chairman and chief executive, in a statement. "There's no better example of this than the revolutionary entertainment experience, Fortnite."

Link to MarketWatch's Slice.