By Will Feuer
Sony Group Corp. said it has agreed to buy Montreal-based videogame developer Haven Entertainment Studios Inc. for an undisclosed sum.
Haven Studios was founded in March of 2021 with an investment from Sony Interactive Entertainment LLC. The studio was formed by developer Jade Raymond, the founder of Ubisoft Toronto and Motive Studios and one of the creative forces behind the hit Assassin's Creed franchise.
Haven Studios is currently working on its first project, which Sony called a live-service experience for Sony's PlayStation.
"The studio's focus on creating an original AAA multiplayer game will not only flex the power of PlayStation 5 but will further expand upon the diverse catalog of gaming experiences that can only be found on PlayStation," Sony Interactive Entertainment Chief Executive Jim Ryan said.
The deal is the latest bout of consolidation in the video-game studio space. In January, Sony said it reached a deal to buy videogame developer Bungie Inc., the studio that created the Halo and Destiny franchises, in a deal valued at $3.6 billion.
That deal came just weeks after Microsoft Corp. said it is buying videogame company Activision Blizzard Inc. in an all-cash deal valued at roughly $75 billion. And Take-Two Interactive Software Inc. said the same month that it had agreed to acquire mobile game maker Zynga Inc. for $11 billion.
The activity comes after mergers-and-acquisitions deals within the game industry at large nearly tripled to $26.2 billion in 2021 from $8.9 billion in 2020, according to data from PitchBook.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
March 21, 2022 12:08 ET (16:08 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.