By Sam Boughedda
Investing.com -- Sony Interactive Entertainment (NYSE:SONY) announced today that it has entered into an agreement to acquire Haven Entertainment.
Sony shares fell 1.7% on Monday.
The result sees Playstation Studios welcoming its first Canadian-based game development team to create a new AAA modern multiplayer game. Haven will be the 18th studio to join Playstation.
Haven is a Montreal-based development studio founded by developer Jade Raymond. Redmond also founded Ubisoft Toronto and Motive Studios, with the developer said to be one of the "creative forces" behind the Assassin's Creed game franchise.
Haven was recently established in 2021 and has collaborated on some of the most popular games. The company plans to work on a new live service experience for PlayStation built upon a systemic and evolving world.
"Haven Studios is an emerging studio with an exceptional team of talent, and we're delighted to welcome them into PlayStation as our first game development studio in Canada," said Jim Ryan, president and CEO of Sony Interactive Entertainment.
"The studio's focus on creating an original AAA multiplayer game will not only flex the power of PlayStation 5 but will further expand upon the diverse catalog of gaming experiences that can only be found on PlayStation."
Sony said Haven will run its operations in close collaboration with Playstation.
No transaction terms were disclosed.