Sony Interactive Entertainment is buying gaming veteran Jade Raymond's new studio, Haven, in a move that comes after the two companies announced plans to work together on a new IP. This new IP is a AAA multiplayer "experience" for PlayStation 5.

PlayStation's Hermen Hulst made the announcement on the PlayStation Blog today. "Jade Raymond brings a wealth of experience from her industry achievements and an infectious passion for creating games, and the leadership team at Haven is an equally impressive group of industry veterans who have collaborated on some of the biggest and most beloved games and franchises that many of us still enjoy today," Hulst said.

As for Haven's first game, Hulst didn't give anything away, but said the company was on board from the first pitch. Hulst said PlayStation was "inspired by Haven's vision for creating a modern multiplayer experience that brings gamers together in positive and meaningful ways."

He added: "We were confident in their creative and technical expertise to deliver on such an ambitious project and were thrilled to invest in their journey developing a new, original IP for PlayStation."

Whatever the game is, Haven's first project will be a "live service experience for PlayStation built upon a systemic and evolving world focused on delivering freedom, thrill, and playfulness," Sony said.

Raymond, a former Assassin's Creed boss who started Haven after leaving EA and Google, said the team at Haven has already made "amazing progress" on the game and in establishing a new team.

"Our first new IP for PlayStation is on track to deliver a AAA multiplayer experience with a vision to build a systemic and evolving world focused on freedom, thrill, and playfulness that will keep players entertained and engaged for years," Raymond said.

As for the deal with SIE, Raymond said the PlayStation company is a "supportive partner that truly understands the creative process and what it takes to make a blockbuster AAA game."

Raymond also said Haven is also eager to work with and learn from SIE's other first-party studios like Guerrilla, Naughty Dog, Media Molecule, and Insomniac Games.

"We're excited to learn from these world-class studios, as well as the exceptional central creative, technology. and marketing teams whose expertise will enable us to deliver even better games to players," Raymond said.

Haven is staffed by more than 60 people right now, and the team continues to grow, Sony said. Haven becomes Sony's 18th internal game studio as part of the PlayStation Studios label.

Financial terms of the deal were not disclosed, but Sony said the day-to-day operations at Haven will continue to be run by Haven's existing management team when the deal closes, with PlayStation executives working in "close collaboration" with Haven.

Haven is just the studio that Sony is buying, and it's reflective of the company's continued push into the live service category. Before this, Sony announced plans to buy Destiny studio Bungie for $3.6 billion. Sony has said it wants to have 10 live-service games by 2026.