Epic Games, developer of the Unreal game engine used for the development of video games and the popular Battle Royale title "Fortnite," received $ 1.25 billion in investment from more than half a dozen investment firms, announced the company on Friday.
The seven investors join Tencent, Disney and Endeavor as minority shareholders in Epic, which continues to be controlled by founder and CEO Tim Sweeney.
"We look forward to partnering with the best minds in the finance, sports and entertainment sectors, strengthening Epic's leadership position in real-time 3D technology and accelerating our ability to improve the way things are done People play, work and interact with the world, "says Sweeney.
Tencent Acquires About 40 Percent of Epic Games for $ 330 The acquisition resulted in Tencent appointing two representatives of the Epic Board of Directors. It is unclear whether this latest investment has led to a change in the composition of the board. This investment in 2012 resulted in a number of high caliber people leaving Epic Games, including Gears of War producer Rod Fergusson, Cliff Bleszinkski and Mike Capps, president of Epic Games. It also had a profound impact on the way the company developed and released games, which in turn led to the development of "Fortnite" and finally the inclusion of the Battle Royale mode, which drove the company's value into the billions.
"Epic Games has fundamentally changed the model of interactive entertainment under the company's visionary leadership," said Ted Oberwager of KKR. "We look forward to supporting Epic's dedicated staff and passionate community of players and developers behind Epic Games, alongside a special investor group."
The Raine Group and Guggenheim Securities, LLC act as financial advisors to Epic Games. Smith Anderson acts as a legal advisor to Epic Games.
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