CARY — Epic Games — creators of mega hit “Fortnite” — is now $250 million richer after Sony Corporation invested the whopping sum in exchange for a minority interest in the Cary-based game developer.

The investment cements an already “close relationship,” Epic added, allowing the companies to collaborate across Sony’s portfolio of entertainment assets and Epic’s social entertainment platform and digital ecosystem.

The closing of the investment is subject to customary closing conditions, including regulatory approvals.

“Epic’s powerful technology in areas such as graphics places them at the forefront of game engine development with Unreal Engine and other innovations,” said Kenichiro Yoshida, Chairman, President and CEO, Sony Corporation, in a statement.

“There’s no better example of this than the revolutionary entertainment experience, Fortnite. Through our investment, we will explore opportunities for further collaboration with Epic to delight and bring value to consumers and the industry at large, not only in games, but also across the rapidly evolving digital entertainment landscape.”

Added Tim Sweeney, Founder and CEO of Epic: “Sony and Epic have both built businesses at the intersection of creativity and technology, and we share a vision of real-time 3D social experiences leading to a convergence of gaming, film, and music. Together we strive to build an even more open and accessible digital ecosystem for all consumers and content creators alike.”

The deal comes at a pivotal time for Epic Games. As the world reels from a global pandemic, it has seen a surge in users during the quarantine.

Its flagship game “Fortnite” has surpassed 350 million registered users. In April alone, it logged more than 3.2 billion total hours played in-game, and hosted the wild popular Travis Scott concert attended by more than 12.3 million fans.

According to a Bloomberg report in April, Epic Games is seeking to raise as much as $1 billion in new capital.

If Epic manages to hit that target, the company’s valuation would increase substantially beyond the estimated $15 billion that PitchBook, Bloomberg and others estimated just over a year ago.

Founded in 1991, Epic has over 2,200 employees across 35 offices worldwide with headquarters in Cary, North Carolina.