game titles for film and television. The new venture is headed by Asad Qizilbash and overseen by Shawn Layden, chairman of Worldwide Studios. On August 19, 2019, Sony Interactive Entertainment announced that the company had entered into definitive agreements to acquire Insomniac Games. The acquisition was completed on November 15, 2019, where Sony paid ¥24,895 million (US$229 million) in cash. On November 8, 2019, Gobind Singh Deo, Malaysia's Minister of Communications and Multimedia, announced that Sony Interactive Entertainment would open a new development office in the country as in 2020 to provide art and animation as part of Worldwide Studios' efforts to make exclusive games for PlayStation consoles. The studio will be Sony Interactive Entertainment's first studio in Southeast Asia. SIE announced the formation of PlayStation Studios in May 2020 to be formally introduced alongside the PlayStation 5 later in 2020. PlayStation Studios will serve as an umbrella organization for its first-party game development studios, including Naughty Dog, Insomniac, Santa Monica Studio, Media Molecule and Guerrilla Games, as well as used for branding on games developed by studios brought in by Sony in work-for-hire situations. Sony plans to use the "PlayStation Studios" branding on both PlayStation 5 and new PlayStation 4 games to help with consumer recognition, though the branding was not ready for some of Sony's mid-2020 releases like The Last of Us Part II. SIE's parent Sony bought a minority stake in Epic Games for $250 million in July 2020, giving the company about a 1.4% stake in Epic. The investment came after Sony helped with Epic's development of new technologies in its Unreal Engine 5, which it was positioning for use in powering games on the upcoming PlayStation 5 to take advantage of its high speed internal storage solutions for in-game streaming. In March 2021, SIE announced that it and RTS acquired the assets and properties of the Evolution Championship Series as a joint venture. On April 13, 2021, Epic Games announced that it received an additional $200 million strategic investment from SIE's parent Sony Group Corporation. On May 3, 2021, Sony Interactive Entertainment announced the acquisition of a minority stake in Discord, which will be integrated into the PlayStation Network by early 2022. On June 29, 2021, Sony Interactive Entertainment announced the acquisition of Housemarque. On July 1, 2021, Sony Interactive Entertainment announced the acquisition of Nixxes Software. Jim Ryan said later that month that they