This spherical features a beforehand introduced $250 million strategic funding from Sony Corporation. Additional funding companions embody Baillie Gifford, funds and accounts managed by BlackRock, Fidelity Management & Research Company LLC, Lightspeed Venture Partners, Ontario Teachers’ Pension Plan Board, funds and accounts suggested by T. Rowe Price Associates, Inc., and David Tepper. Existing traders KKR and Smash Ventures additionally added to their 2018 funding. Following the closing of the funding spherical Epic will proceed to have solely a single class of frequent inventory excellent and can stay managed by its founder and CEO, Tim Sweeney.
“Having the support of leaders in the financial community accelerates Epic’s efforts to build a new kind of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model. We are delighted to have them as part of the Epic family,” mentioned Sweeney.
Credit Suisse and The Raine Group acted as joint placement brokers to Epic, and Wilson Sonsini Goodrich & Rosati supplied authorized counsel to Epic.
About Epic Games
Founded in 1991, Epic Games is a number one interactive leisure firm and supplier of 3D engine expertise. Epic operates Fortnite, one of many world’s largest video games with over 350 million accounts and a couple of.5 billion good friend connections. Epic additionally develops Unreal Engine, which powers the world’s main video games and can be adopted throughout industries reminiscent of movie and tv, structure, automotive, manufacturing, and simulation. Through Unreal Engine, Epic Games Store, and Epic Online Services, Epic offers an end-to-end digital ecosystem for builders and creators to construct, distribute, and function video games and different content material. Epic has over 40 workplaces worldwide with headquarters in Cary, North Carolina.
