No Sony at E3 2021. Sony Ditches ESA’s Electronic Entertainment Expo 2021 E3 2021 is…
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Last night a massive next-gen news package was dropped. Following the suit of Microsoft, Sony finally announced some of the most awaited details of PS5. Raising the expectations of the fans, the PS5 September showcase event announced several game trailers and new game announcements. These new games included the much anticipated God of War, Hogwarts Legacy, and Final Fantasy XVI. So let’s jump right into the details, shall we?
Epic Games, Epic Funding And Epic Future!
Epic Games is now valued at $17.3 billion after concluding an epic funding deal of $1.78 billion. This investment came in the form of primary capital as well as secondary purchases. To put it simply, some investors bought new shares while others bought shares from existing shareholders. Epic Games disclosed that the investment also included a strategic investment of $250 million from Sony, which was announced last month.
The investors that bought into the company are; Fidelity, fund, and accounts managed by BlackRock, Baillie Gifford, Light Speed Venture Partners, the Ontario Teacher’s Pension Plan Board, and Hedge fund manager David Tepper among others. Some of the existing backers also increased their holdings.
The bidding war for Leyou Technologies continues with Tencent said to be the latest potential suitor. Bloomberg reports that the Chinese giant is currently in talks to acquire Leyou, citing anonymous sources close to the matter.