Following the announcement of Bungie’s acquisition, Sony reveals what the money from the sale will be used for in its quarterly report.
Not long ago, Sony told us that PS5 sales were not looking good for the end of 2021, due to the shortage of components which is affecting production and therefore the restocking of consoles. In the same financial report that announces this news, we learn some useful information about the takeover of the Bungie studio, unveiled just a few days before.
As a reminder, Bungie is the development studio behind the successful saga destinybut also behind the creation of the first games Halo, before going under the thumb of 343 Industries. To afford this little gem, Sony has paid the sum of 3.6 billion dollars in total. In the report, we learn that about a third of this sum should be used to carry out “deferred payments to employee shareholders, conditional on their continued employment, and other retention incentives“.
Sony does not want to shake up the organization of the studio
In this jargon, few things are clear. In reality, this simply means that Sony expects that part of the money spent will be used to pay handsomely some studio employees in order to keep them in their positions during the transition. This, Sony intends to do for several years in order to prove its good faith in the acquisition just made. However, not all employees should be affected.
Some should thus receive the equivalent of a year’s salary for compensation, while others will benefit from increases spread over several years. The rest of the money, around $2.4 billion, should be used to buy back the studio’s shares.
Exclusive Bungie licenses?
For the moment, Sony’s plans for Bungie have not been revealed, nor have Microsoft’s plans for Activision Blizzard. However, Herman Hulst, head of PlayStation Studios, says he is very excited about the acquisition, and expects other studios to follow suit in 2022. In 2021, Sony had already set the bar quite high, with the takeover of Housemarque, Nixxes, Bluepoint Games and even Firesprite.
I’m absolutely thrilled to welcome Bungie to the PlayStation family! Bungie creates community-driven games with outstanding technology that are enormous fun to play, and I know that everyone at PlayStation Studios will be excited about what we can share and learn together.
—Hermen Hulst (@hermenhulst)
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