Sony Interactive Entertainment, a multinational video game and digital entertainment company, agreed to acquire Bungie, a video game studio based in Bellevue, Washington, for $3.6bn. "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. This is an important step in our strategy to expand the reach of PlayStation to a much wider audience. We understand how vital Bungie’s community is to the studio and look forward to supporting them as they remain independent and continue to grow. Like Bungie, our community is core to PlayStation’s DNA, and our shared passion for the gamer and building the best place to play will now evolve even further," Jim Ryan, SIE President and CEO.