Sony announced on Monday that it is acquiring video game developer Bungie for $3.6 billion. The two companies previously worked together on several games, and Bungie is responsible for massively popular titles like Halo and Destiny.
The companies explained that Bungie will still operate as an independent gaming studio and self-publish games. Bungie has about 900 employees and a headquarters in Bellevue, Washington.
Bungie will operate as an independent subsidiary of Sony Interactive Entertainment and will be run by CEO Pete Parsons as well as a board of directors. Bungie itself has moved in and out of deals with large companies. Microsoft acquired Bungie in 2000 and brought the popular Halo franchise to Xbox. In 2007, Bungie announced that it was once again going indie, splitting from Microsoft. Bungie has also previously had publishing deals with Activision Blizzard.