This week, Sony Interactive Entertainment (SIE) officially announced the closure of its Haven Studios acquisition. The deal was initially revealed back in March. Haven, which was formed in 2021, will now join Sony’s growing gaming empire under its PlayStation Studios umbrella.
Haven Studios launched last year with just six employees and has now grown to over 100. However, the company has yet to release a game. Even so, this fact did not dissuade SIE from acquiring it.
Back in March, when the deal was announced, Jade Raymond, the founder of Haven said, “One year ago this month, we embarked on a journey to start Haven Studios with a small team and big ambitions. Our goal was to build a studio where we could make the kind of games we’ve always wanted to create – and games we’ve longed to play!
“We’ve made amazing progress in a short time thanks to our talented, passionate team and their exceptional contributions… Our first new IP for PlayStation is on track to deliver a AAA multiplayer experience with a vision to build a systemic and evolving world focused on freedom, thrill, and playfulness that will keep players entertained and engaged for years.”
Although Haven has yet to fully develop or launch a game, it says it’s already working on a live-service game for Sony’s PS5.
With so much competition for assets in the video game industry, it seems Sony did not want to wait for Haven to fully develop a game before acquiring it. Having waited on development could potentially have triggered a bidding war for Haven.
And it’s no wonder why. Investment in the industry, including M&A has been red hot. Small studios, like Haven, are being acquired by big-tech companies, like Sony, at a breakneck pace, and some valuations are being driven very high as a result.
Read more about the Haven acquisition, HERE
Or discover more potential big-tech acquisition targets, HERE