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<ul class="summary-list"><li>Shares of <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony" source="Orion">Sony</keyword> Group jumped after the company announced it is acquiring <keyword id="13074813" type="UNKNOWN" weightage="60" keywordseo="bungie" source="Orion">Bungie</keyword> for $3.6 billion.</li><li>Bungie, founded in 1991, is the developer behind the <keyword id="13074816" type="UNKNOWN" weightage="60" keywordseo="destiny" source="Orion">Destiny</keyword> franchise.</li><li>The move follows <keyword id="11895708" type="UNKNOWN" weightage="60" keywordseo="microsoft" source="Orion">Microsoft</keyword>'s acquisition of <keyword id="11948810" type="UNKNOWN" weightage="60" keywordseo="activision" source="Orion">Activision</keyword> and Take-Two Interactive's purchase of Zynga.</li></ul>Shares of Sony Group jumped on Monday after the company <a href="https://www.businesswire.com/news/home/20220131005684/en/Sony-Interactive-Entertainment-to-Acquire-Leading-Independent-Videogame-Developer-Bungie">announced</a> it is acquiring Bungie — the developer behind Destiny and <keyword id="13074815" type="UNKNOWN" weightage="60" keywordseo="halo" source="Orion">Halo</keyword> franchises — for $3.6 billion as video game mergers and acquisitions heat up.Sony's stock price surged 5.92% to $113 at 1:22 p.m. in New York. It was last seen trading 3.78% higher to $110 as of 2:55 p.m ET. The company's American depositary receipts were halted pending the news.The move follows <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>'s blockbuster <a href="https://www.businessinsider.com/microsoft-buys-activision-in-a-nearly-70-billion-deal-2022-1">acquisition of Activision</a>, the major video game publisher behind the "Call of Duty" franchise, in an all-cash deal valued at about $68.7 billion, and Take-Two Interactive's <a href="https://www.businessinsider.com/take-two-interactive-buys-zynga-13-billion-deal-video-games-2022-1">purchase of mobile game maker Zynga</a> in a deal worth $12.7 billion. Take-Two is the video game publisher behind "Grand Theft Auto" and "Red Dead Redemption."This acquisition will give Sony access to Bungie's live service games, notably "Destiny." Bellevue, Washington-based Bungie will continue to operate independently and will maintain its ability to self-publish, the announcement said.After the acquisition, Bungie will be an independent subsidiary of Sony Interactive Entertainment. It will be led by its Board of Directors, which is chaired by Pete Parsons, Bungie's CEO and chairman. Sony said the transaction is still subject to closing conditions, including regulatory approvals.Importantly for gamers, Bungie's games will still be multiplatform, Sony said in its announcement of the deal. Microsoft's acquisition of Activision has sparked concerns that some of the most well-known franchises would end up exclusive to Xbox, similar to upcoming titles from Bethesda after the company was sold to Microsoft in 2020. "We've had a strong partnership with Bungie since the inception of the Destiny franchise, and I couldn't be more thrilled to officially welcome the studio to the PlayStation family," Jim Ryan, president and CEO, of Sony Interactive Entertainment, said in a statement. "What does Bungie bring to Sony? Well apart from some hugely successful IPs (especially Destiny) there are 800 developers with free to play and Gaming as a Service experience," said Neil Campling, head of TMT Research at Mirabaud Securities, in a note Monday. The Japanese entertainment and technology giant has regularly purchased video game studios in the past, although its acquisition of Bungie is among its largest.This isn't Bungie's first time being acquired. In 2000, it was purchased by Microsoft for around $30 million. In 2007, Bungie gained independence after releasing Halo 3. After that, Bungie signed a <a href="https://www.wired.com/2010/04/bungie-activision/">decade-long deal with Activision</a> that ended in 2019.

Sony jumps after announcing deal to acquire Bungie for $3.6 billion as video game M&A heats up

<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Activision/Bungie" title_caption="The highly-anticipated " Destiny="" title="" went="" on="" sale="" Tuesday.="" Its="" the="" next="" game="" from="" developer="" Bungie="" responsible="" for="" Halo="" franchise.="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5410867b6bb3f7a33f123b34-960/girl-on-fire-destiny-3.png"></a>Activision/BungieThe highly-anticipated "Destiny" title went on sale Tuesday. It's the next game from developer Bungie, responsible for the "Halo" franchise.</div></div></div>Wednesday morning, Activision, the publisher behind new video game "Destiny" <a href="http://www.businessinsider.com/destiny-is-now-the-most-successful-launch-for-a-new-video-game-franchise-ever-2014-9">released an announcement regarding its first day sales</a>.
The announcement has led to several reports suggesting that "Destiny," an apocalyptic shooter set in the future, has <a href="http://www.bloomberg.com/news/2014-09-10/activision-s-destiny-has-first-day-sales-of-500-million.html">made $500 million</a> in its first 24 hours.
However, a close read of the announcement released, shows this isn't the case. 
Here's a portion of the release which was sent our way Wednesday morning:
ACTIVISION SELLS IN MORE THAN $500 MILLION OF DESTINY
WORLDWIDE AS OF DAY ONE 
Destiny is the Most Successful New Video Game Franchise Launch of All Time 
Destiny is the Highest-Selling Day One Digital Console Release in History 
On Track to Become Activision's Next Billion Dollar Franchise 
Santa Monica, CA - September 10, 2014 -- Activision Publishing, Inc., a wholly owned subsidiary of Activision Blizzard, Inc. (Nasdaq: ATVI), announced today that the company sold more than $500 million of Destiny into retail stores and first parties worldwide as of day one, making the game the biggest new video game franchise launch in history. 
"Based on extraordinary audience demand, retail and first party orders worldwide have exceeded $500 million for Destiny," said Bobby Kotick, CEO of Activision Blizzard. "This industry milestone marks another blockbuster success for our company and demonstrates our unique ability to create some of the most successful entertainment franchises in the world. The success of Destiny, along with the recent introduction of Blizzard Entertainment's Hearthstone, is further validation of our unique capabilities to create great entertainment franchises from the ground up." 
Destiny launched at over 11,000 midnight openings around the world, as fans in over 178 countries (Source: Radian6) shared their fervor on YouTube and in social media.
There are two important parts to note here.
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Activision" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/541081ec6bb3f7e12d123b2f-960/destiny-first-day-sales.png"></a>Activision</div></div></div>
"Sell-in" does not mean the same as sales generated.
Activision is merely reporting the value of the total games it has shipped into stores across the world. This number does not reflect the "sell-through" rate. Currently, we do not know the first day sales or units sold for "Destiny." What we do know is that Activision has more than $500 million worth of the game on the market.
The release this morning is very similar to another one last November from the company <a href="http://investor.activision.com/releasedetail.cfm?ReleaseID=804829">when it announced a sale of $1 billion</a> worth of its latest "Call of Duty" title, "Call of Duty: Ghosts."
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Activision" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/541087aaecad04871b123b31-960/activision-call-of-duty-ghosts-release.png"></a><a href="http://investor.activision.com/releasedetail.cfm?ReleaseID=804829">Activision</a></div></div></div>
The initial release sent media into a <a href="http://kotaku.com/no-call-of-duty-ghosts-did-not-make-1-billion-on-its-1461528957">swirl mis-reporting that "Call of Duty: Ghosts" made $1 billion in 24 hours</a>, a figure that would have made it the fastest-selling game title in one day.
A few days later, Activision CFO Dennis Durkin clarified during a conference call that the $1 billion number was a "sell-in" number, <a href="http://www.forbes.com/sites/insertcoin/2013/11/08/activision-admits-call-of-duty-ghosts-didnt-outsell-black-ops-2-at-launch/">according to Forbes</a>. The actual sales figures for "COD: Ghosts" within the first 24 hours was less than its previous "Call of Duty" title, "Black Ops 2." Activision reported a <a href="http://www.joystiq.com/2012/11/16/call-of-duty-black-ops-2-500-million-24-hours/"></a><a href="http://investor.activision.com/releasedetail.cfm?ReleaseID=721903">$500 million "sell-through" number</a> for "Call of Duty: Black Ops 2." 
Here's how Activision's stock (ATVI) has moved since the announcement this morning.
<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Google" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/54108dfd69beddf063c92c18-960/activision-stock.png"></a><a href="https://www.google.com/search?q=activision+stock&amp;oq=activi&amp;aqs=chrome.0.69i59j69i65j69i59l2j69i60l2.50571j0j4&amp;sourceid=chrome&amp;es_sm=119&amp;ie=UTF-8">Google</a></div></div></div> 
We've reached out to Activision for comment.

Here's Why 'Destiny' Didn't Actually Make $500 Million In 24 Hours

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Sony jumps after announcing deal to acquire Bungie for $3.6 billion as video game M&A heats up

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Here's Why 'Destiny' Didn't Actually Make $500 Million In 24 Hours

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