Epic Games Forges New Financial and Strategic Partnerships
CARY, N.C.--(BUSINESS WIRE)--Oct 26, 2018--Epic Games is pleased to announce it has received an investment of approximately $1.25 billion from KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners.
This investment creates powerful partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events.
These investors join Tencent, Disney and Endeavor as minority shareholders in Epic, which continues to be controlled by founder and CEO, Tim Sweeney.
“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world,” said Sweeney.
“Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership,” said Ted Oberwager of KKR. “Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does.”
The Raine Group and Guggenheim Securities, LLC are acting as financial advisors to Epic Games. Smith Anderson is acting as legal advisor to Epic Games.
About Epic Games
Founded in 1991, Epic Games is the creator of Fortnite, Unreal, Gears of War, Shadow Complex, and the Infinity Blade series of games. Epic’s Unreal Engine technology brings high-fidelity, interactive experiences to PC, console, mobile, AR, VR and the Web. Unreal Engine is freely available at unrealengine.com. For more information, visit epicgames.com and check out @EpicGames.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181026005404/en/
CONTACT: Epic Games
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
INDUSTRY KEYWORD: ENTERTAINMENT ELECTRONIC GAMES TECHNOLOGY OTHER ENTERTAINMENT CONSUMER ELECTRONICS SOFTWARE
SOURCE: Epic Games
Copyright Business Wire 2018.
PUB: 10/26/2018 11:10 AM/DISC: 10/26/2018 11:11 AM