According to a report from Bloomberg and Jason Schreier, Sony is buying Bungie, the studio behind the Destiny games and the creators of Halo, the series that put Xbox on the map. The report has also been officially acknowledged by Herman Hulst, head of PlayStation Studios. Check out the details on this massive buyout below.

First reported by Jason Schreier, here’s his statement:

BREAKING: Sony is buying Bungie, the maker of Destiny — another seismic gaming deal that comes just two weeks after Microsoft purchased Activision Blizzard.

Bungie put Xbox on the map. Now it’s part of PlayStation Studios. Filed to Bloomberg Terminal, hitting web soon

Herman Hulst, head of PlayStation Studios, then confirmed the purchase minutes later, stating:

I’m absolutely thrilled to welcome Bungie to the PlayStation family! Bungie create community-driven games with outstanding technology that are enormous fun to play, and I know that everyone at PlayStation Studios will be excited about what we can share and learn together.

Bungie has came out with a statement on the purchase which you can check out below.

We believe games have limitless potential, and that to do anything worthwhile in entertainment, we must bet big on our vision, on our studio, and on our incredible team of trusted creators who build unforgettable worlds that truly matter to people.​

In SIE, we have found a partner who unconditionally supports us in all we are and who wants to accelerate our vision to create generation-spanning entertainment, all while preserving the creative independence that beats in Bungie’s heart. Like us, SIE believes that game worlds are only the beginning of what our IPs can become. Together, we share a dream of creating and fostering iconic franchises that unite friends around the world, families across generations, and fans across multiple platforms and entertainment mediums.​

Today, Bungie begins our journey to become a global multi-media entertainment company. ​

The massive buyout comes right after Microsoft’s purchase of Activision Blizzard, the studio behind the Call of Duty franchise. While not as large as the former, this Sony-Bungie deal is a significant one thanks to Destiny 2.