Sony To Snap Haven Entertainment Studios For Undisclosed Sum

Sony Group Corp SONY Sony Interactive Entertainment LLC agreed to acquire Haven Entertainment Studios Inc.
The financial terms of the transaction remain undisclosed.
Haven was a development studio formed by developer Jade Raymond, founder of Ubisoft Toronto and Motive Studios and one of the creative forces behind the blockbuster Assassin’s Creed franchise.
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Haven Studios is currently working on its debut project, a new live service experience for PlayStation built upon a systemic and evolving world focused on delivering freedom, thrill, and playfulness.
“Haven Studios is an emerging studio with an exceptional team of talent, and we’re delighted to welcome them into PlayStation as our first game development studio in Canada,” said Jim Ryan, CEO. “The studio’s focus on creating an original AAA multiplayer game will not only flex the power of PlayStation 5 but will further expand upon the diverse catalog of gaming experiences that can only be found on PlayStation.”
Sony held ¥2.2 trillion in cash and equivalents as of December 31.
Price Action: SONY shares traded lower by 1.84% at $104.17 on the last check Monday.