Sony is buying flutter and other mobile gaming platforms from the Taiwanese entertainment giant in a deal that will give the Japanese technology giant a foothold in a crowded field.
The deal will allow Sony to focus on gaming, which is increasingly popular among millennials and young adults, with Sony CEO Kazuo Hirai said in a press release.
Sony has been a dominant player in the mobile game market, and the flutter platform, which uses artificial intelligence to detect when players are in the middle of a game, will allow it to more effectively compete with other developers.
Sony said in the release that the deal will be valued at about $1.5 billion, with a value of $800 million to $1 billion for flutter.
The flutter company has raised a total of $1 million to date.
Sony is expected to announce a new console at the Gamescom trade show in Germany this week.