"Bungie joins Sony Interactive Entertainment... We have found a partner in SIE who supports us unconditionally in everything we do," the studio said in a statement.
According to Sony, Bungie developers will remain independent and will retain the ability to publish on different gaming platforms.
According to RBC, after the announcement, the shares of the Japanese corporation rose by 6.05% to $113.3 at the New York Stock Exchange.
The studio's purchase announcement comes almost two weeks after Microsoft announced it was buying game developer Activision Blizzard for $68.7 billion.
The deal will total $68.7 billion and is expected to close in fiscal 2023.