Fortnite deal sparks Sony

Shares in Sony jumped to a nearly two-decade high after the media and entertainment giant took a stake in “Fortnite” video game maker Epic Games.

Tokyo-based Sony is pumping $250 million into privately owned Epic. Besides massively successful Fortnite, which has 350 million users, Epic also develops the software technology behind some of the world’s leading games. North Carolina-based Epic says its technology is being adopted across a range of industries, including film and television, architecture, auto making, and manufacturing.

“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations,” said Sony CEO Kenichiro Yoshida. “There’s no better example of this than the revolutionary entertainment experience, Fortnite.”

Shares in Sony gained 3.4% to close at $73.94 on Friday.