Sony is set to acquire video game developer Bungie in a $3.6 billion deal.

The Washington, Seattle-based company - which has over 900 employees - is known for game series such as Destiny and Halo.

Bungie was founded in 1991, before being acquired by Microsoft in 2000, and splitting from the BigTech in 2007.

The news comes at a time of consolidation in the video game sector.

Last month, Microsoft agreed to buy video game company Activision Blizzard for $68.7 billion, which was the BigTech firm’s largest acquisition ever.

Sony said Bungie will be run as an independent unit of Sony Interactive Entertainment, and will be led by its board of directors, chaired by its chief executive Pete Parsons and Bungie’s current management team.

The transaction is subject to certain closing conditions, including regulatory approvals.

“Bungie has created and continues to evolve some of the world’s most beloved videogame franchises and, by aligning its values with people’s desire to share gameplay experiences, they bring together millions of people around the world,” said Kenichiro Yoshida, chairman, president, and chief executive at Sony Group Corporation. “As part of our Purpose to ‘fill the world with emotion, through the power of creativity and technology’, we will utilize the Sony Group’s diverse array of entertainment and technology assets to support further evolution of Bungie and its ability to create iconic worlds across multiple platforms and media.”

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