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Why Sony Bought Firewalk Studios—and What Happened Next

Sony acquired Firewalk in 2023 as part of its live-service strategy, but did not disclose the price. The studio later closed after Concord was sunset.
From TheFinanceBase Team2 min to read
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Sony Interactive Entertainment (SIE) announced on April 20, 2023, that it had agreed to acquire Firewalk Studios from ProbablyMonsters. Sony said the deal fit PlayStation’s investment in live-service games and its effort to expand PlayStation across platforms. The acquisition price was not disclosed. Sony later permanently sunset Firewalk’s game, Concord, and closed the studio.

Why did Sony buy Firewalk Studios?

Sony presented the acquisition as part of PlayStation Studios’ investment in live-service games and platform expansion. Firewalk was already developing an original multiplayer game for PlayStation 5 and PC, and PlayStation had partnered with ProbablyMonsters and Firewalk to publish the game in 2021. Buying the studio expanded that existing relationship; Sony did not describe its decision as a response to any publicly stated financial result or guarantee of success.

In announcing the agreement, Hermen Hulst, then Head of PlayStation Studios, said, “I’m excited to announce that we’ve expanded our relationship with Firewalk Studios and are thrilled to welcome them to PlayStation Studios.” Sony’s announcement said Firewalk’s management would continue to oversee day-to-day operations in collaboration with PlayStation Studios’ External Development team.

What was Firewalk Studios?

Firewalk was a Bellevue, Washington, studio formed in 2018 within ProbablyMonsters. Sony described it as having nearly 150 employees and growing when it announced the acquisition. At that point, the studio was making an original AAA multiplayer game for PS5 and PC.

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The buyer named in the announcement was Sony Interactive Entertainment, not Sony Group as a whole. Firewalk’s previous parent was ProbablyMonsters; PlayStation had been its publishing partner before the acquisition. Sony’s corporate timeline also records the Firewalk acquisition on April 20, 2023.

How much did Sony pay for Firewalk?

Sony did not disclose the acquisition cost or other transaction terms, citing contractual commitments. No verified purchase price was provided in its announcement, so a specific dollar figure should not be treated as established.

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What happened to Firewalk and Concord?

Sony later took Concord offline, announced that it would permanently sunset the game, and closed Firewalk Studios. In its PlayStation Studios update, Sony said: “After much thought, we have determined the best path forward is to permanently sunset the game and close the studio.” Firewalk is therefore not an active PlayStation studio.

That outcome is important context for the acquisition, but it does not establish what Sony knew or expected when it bought the studio in 2023. The public explanation at the time was strategic: Sony wanted to strengthen PlayStation’s live-service development and platform reach.

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