Netease is set to exit the video game developer in the third multibillion-dollar gaming acquisition so far this year.

Sony Interactive Entertainment (SIE), a subsidiary of electronics group Sony, agreed yesterday to acquire US-based video game developer Bungie in a $3.6bn deal allowing internet and online gaming company NetEase to exit.

Bungie, which was founded in 1991 and is responsible for the creation of the Halo and Destiny game franchises, will operate as an independent subsidiary of SIE following the acquisition.

The news came two weeks after the announcement of an even larger rival deal: the planned $68.7bn takeover…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.