Sony to acquire videogame developer Bungie in $3.6 billion deal

• Bungie is the original creator of popular first-person shooter games, Halo and Destiny

• Bungie will continue to run by its board chaired by Chief Executive Pete Parsons

Sony Group Corp’s (NYSE: SONY) videogame unit said on Monday that it is buying videogame developer Bungie Inc. in a $3.6 billion deal.

Bungie is the original creator of popular first-person shooter games, Halo and Destiny. Halo is currently owned by Microsoft Corp (NYSE: MSFT) and is only available to Microsoft’s Xbox system.

Earlier this month, Microsoft also announced to buy videogame company Activision Blizzard Inc. in an all-cash deal valued at $75 billion. By the deal, Microsoft will own the most popular shooter franchises, Activision’s Call of Duty.

Sony and Microsoft would be able to compete against each other by offering exclusive games to its customers after the acquisitions.

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Sony said that after the deal closes, Bungie will be an independent subsidiary of Sony Interactive Entertainment and will continue to run by its board chaired by Chief Executive Pete Parsons.

“Bungie has created and continues to evolve some of the world’s most beloved videogame franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Sony Group Chairman and Chief Executive Kenichiro Yoshida.

In a separate release, Parsons said the deal will help grow Bungie while keeping the creative independence of the studio intact.

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“Today, Bungie begins our journey to become a global multi-media entertainment company,” he said.

Microsoft had acquired Bungie in 2000 to develop games, before it was split off from Microsoft in 2007. Microsoft now owns the intellectual property behind Halo franchise.

Earlier this month, video game maker Take-Two Interactive also said it would buy mobile game maker Zynga for $11.04 billion in a cash-and-stock deal.

Picture Credits: Getty Images