INTERNATIONAL: Sony Interactive Entertainment will acquire "Halo" and "Destiny" videogame creator Bungie in a deal valued at $3.6 billion, making it the latest in a wave of consolidation sweeping the gaming sector.

Early in January, Microsoft Corporation has offered nearly $70 billion to buy "Call of Duty" maker Activision Blizzard, while "Grand Theft Auto" maker Take-Two bid $11 billion for "Farmville" maker Zynga .

Bellevue, Washington-based Bungie, which worked on the "Halo" videogame series when owned by Microsoft, separated from the software giant to go private in 2007 and no longer worked on the "Halo" franchise..

But it's the success of the "Destiny" franchise that spearheaded this acquisition, according to senior writer at video game website, Kotaku, Ethan Gach.

"Bungie has spoken in the past about wanting to branch out into film and into TV and to sort of make 'Destiny' into a 'Star Wars'-like property, where people expect books and cartoons and that sort of universe to be available in lots of different media so Sony allows them a launchboard to do that," said Gach.

The acquisition will allow the PlayStation console maker to reach more players with new games in a competitive space where it is toe-to-toe with Microsoft's Xbox consoles.

The video game space is consolidating rapidly to tap a surge in demand created by the pandemic, with new deals blurring the lines between PC and mobile gaming companies as these firms hunt for new revenue streams.

The sector is racing to a new record of $150 billion in deals, financing and IPOs this year, according to investment banking firm Drake Star Partners.

Sony Interactive Entertainment acquired six gaming companies in 2021, including "God of War" maker Valkyrie Entertainment.

Bungie will be an independent unit of Sony Interactive Entertainment and run by its board chaired by CEO Pete Parsons and team.