Fortnite creator Epic Games gets $348 million investment from Sony

Epic Games, the creator of the popular video game Fortnite, said on Thursday it had received a $250 million (S$348 million) investment from Japan's Sony Corp 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 Inc and Baillie Gifford, at a valuation of about $17 billion.

Epic, which also developed the game engine "Unreal", in 2018 received $1.25 billion in funding from investors, including KKR & Co Inc .

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."