#‘Fortnite’ creator Epic Games snags $250 million from Sony

Epic Games, the creator of the popular video game “Fortnite,” said on Thursday it had received a $250 million investment from Japan’s Sony for a minority stake in the company.

Last month, Bloomberg reported that Epic was close to raising a $750 million round of funding, from investors including T. Rowe Price Group and Baillie Gifford, at a valuation of about $17 billion. (reut.rs/3feq1Hb)

Epic, which also developed the game engine “Unreal,” in 2018 received here $1.25 billion in funding from investors, including KKR.

Sony is all set to launch its next-generation console PlayStation 5 later this year, with titles including Ubisoft’s “Assassin’s Creed Valhalla” and Rockstar Games’ “Grand Theft Auto V.”