Sony’s $200 Million Investment in Epic

Cleary Gottlieb Steen & Hamilton LLP advised Sony on the deal.

Sony Group Corporation (“Sony”) executed a $200 million strategic investment in Epic Games (“Epic”) as part of a $1 billion round of funding, which was completed on April 13, 2021. Epic’s equity valuation is now $28.7 billion. 

Other investment partners include Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.

Sony’s $200 million investment builds on an earlier $250 million investment in Epic in June 2020 as well as the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.

Sony Group Corporation manufactures and distributes electronics products and provides related solutions. Epic Games, Inc. is an American video game and software developer and publisher based in Cary, North Carolina. 

The Cleary Gottlieb M&A team advising Sony included partner Jim Langston (Picture) and associates Nimat Lawal and Jean Lee. Partner Daniel Ilan, associates Brendan Cohen and Jaehwan Park, and law clerk Samantha Simmons advised on IP and cyber security/data privacy matters. Partner David Herrington and associate Canem Ozyildirim advised on litigation matters. 

Involved fees earner: Brendan Cohen – Cleary Gottlieb Steen & Hamilton; David Herrington – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; James Langston – Cleary Gottlieb Steen & Hamilton; Nimat Lawal – Cleary Gottlieb Steen & Hamilton; Jee Eun Lee – Cleary Gottlieb Steen & Hamilton; Canem Ozyildirim – Cleary Gottlieb Steen & Hamilton; Jaehwan Park – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Sony Corporation;

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Author: Martina Bellini