'Fortnite' creator Epic Games gets $250 million investment from Sony

Epic games also developed game engine 'Unreal', in 2018 received $1.25 billion in funding from investors

Epic Games, the creator of the popular video game “Fortnite”, said on Thursday it had received a $250 million investment from Japan’s Sony Corp for a minority stake in the company.

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Last month, Bloomberg reported that Epic was close to raising a $750 million round of funding, from investors including T. Rowe Price Group 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.

Recently, the digital videogame store was down on as it recorded huge traffic after reports that it was giving the premium edition of “Grand Theft Auto V” for free.

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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.”

The Japanese consumer electronics giant did not reveal pricing or a launch date for the PS5, which will take on a new Xbox Series X from Microsoft when the rival consoles hit the market later this year.

Two versions of the PS5 were shown, one with a slot for the game or video disks and another without for players who prefer to download titles via the internet.