Sam Boughedda

Investing.com — Sony Group Corp (NYSE 🙂 and the family-owned holding and investment company behind Lego Group, KIRKBI, have invested $1 billion apiece in FortniteEpic Games is the creator

According to Epic’s press release, this deal will allow Epic to expand its reach into the metaverse while supporting its growth. 

Epic had previously been acquired by Sony for $250 million. 

It is expected that the investment made by Lego and Sony will result in the company being valued at $31.5billion.

Lego and Epic Games declared last week that they were entering a long-term alliance to “shape” the future of metaverse. They said that their goal is to make digital experiences for families more accessible.

“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 and CEO, Sony Group Corporation. 

Søren Thorup Sørensen, CEO at KIRKBI, said: “A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”

Sony’s shares on the U.S. exchange are at 4.9% lower Monday.