Half the reason that Microsoft has been buying game studios is because Sony has been buying game studios. Sony has even bought a game studio that Microsoft already bought and sold.
Among others, Sony's bought: Psygnosis (Lemmings), Incognito (Twisted Metal), Zipper Interactive (SOCOM), Sigil (Everquest), Evolution (WRC, Motorstorm), Bungie (Destiny), Polyphony (Gran Turismo), Santa Monica (God of War), Bend (Days Gone, Syphon Filter), Naughty Dog (Crash Bandicoot, Jak and Daxter, Uncharted, The Last of Us), Guerilla (Killzone, Horizon), Media Molecule (Little Big Planet), Sucker Punch (Ghost of Tsushima), Insomniac (Spyro, Ratchet & Clank, Spider-Man)... they basically have built their entire "first party" game catalog off of the companies they've acquired.
As someone said above “There is a difference in basically sponsoring the artistic abilities of a studio, versus buying one to shoulder out your competition”.
Bungee and maybe a few others are the exception, with the bungie purchase looking like a reaction to the activision purchase.
Half the reason that Microsoft has been buying game studios is because Sony has been buying game studios. Sony has even bought a game studio that Microsoft already bought and sold.
Among others, Sony's bought: Psygnosis (Lemmings), Incognito (Twisted Metal), Zipper Interactive (SOCOM), Sigil (Everquest), Evolution (WRC, Motorstorm), Bungie (Destiny), Polyphony (Gran Turismo), Santa Monica (God of War), Bend (Days Gone, Syphon Filter), Naughty Dog (Crash Bandicoot, Jak and Daxter, Uncharted, The Last of Us), Guerilla (Killzone, Horizon), Media Molecule (Little Big Planet), Sucker Punch (Ghost of Tsushima), Insomniac (Spyro, Ratchet & Clank, Spider-Man)... they basically have built their entire "first party" game catalog off of the companies they've acquired.