This comes a year after Sony invested $200 million.
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Last year, Sony invested $200 million (USD) into Epic Games. I could have sworn I put up a news post about this when it happened, but I cannot seem to find it at the moment, so you'll just have to trust me on this. Or you can just read the official release of that from April 13, 2021 via Epic Games.

Almost one year later and Sony is again pouring money into Epic Games. This time, instead of $200 million the amount is $1 billion. In addition to Sony's $1B, the investment company behind The LEGO Group, KIRKBI, also invested $1 billion into Epic Games.

Assuming everything gets finalized without issue, this brings Epic's post-money equity valuation up to $31.5 billion. This means that Sony's and KIRKBI's new investments are equal to about 6.3% of Epic.

What's that? More money to buy timed exclusive PC releases? Oh boy!

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time.” said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation. “We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives."