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Michael Pachter: Sony ‘Vastly Overpaid’ For Bungie Out Of ‘Desperation’

Wedbush Morgan analyst Michael Pachter has offered his two cents on Sony’s recent acquisition of Bungie, suggesting the format holder ‘vastly overpaid’ to get its hands on the Destiny 2 developer.

Speaking with Yahoo! Finance, Pachter reckons Sony made the move out of desperation in wake of Microsoft’s plans to acquire Activision.

Sony, I think, just did a me too statement and said, we’re not going to be left behind. So we’ll buy Bungie. Just to compare and contrast, EA bought Respawn about three or four years ago for $700 million with 400 developers. And those guys generate $700 million a year in revenue. Bungie does about $200 million in revenue. So I think Sony vastly overpaid.

I think this was a statement that [Sony’s] not going to let Microsoft get ahead of [it], so [it’ll] just buy something out of desperation. It’s not really a deal that makes a whole lot of sense to me,” he concludes.

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Regardless of what Pachter thinks, Sony is obviously pretty serious about its future with Bungie, as it’s dedicating $1.2 billion from the deal to incentives for staff.

Meanwhile, Bungie is reportedly working on a brand new IP and Sony itself has revealed it plans on shipping around 10 live service games by March 2026.

[Source – Yahoo! Finance]