Last year Sony Group Corporation – parent company of Sony Music Group –spent USD $200 million to acquire a 0.7% stake in the games company. That investment followed a heftier stake acquisition in 2020, when Sony spent $250 million to acquire equity in Epic worth around 1.5% of its business. Today (April 11), Epic Games has confirmed that Sony has agreed to spend $1 billion to acquire an additional stake in its company.
Source: Sony is spending $1bn to buy another 3% stake in Epic Games to help ‘build the metaverse’