Epic Games latest acquisition is RAD Game Tools, one a great many game developers will be familiar with. As confirmed on the official Epic Games news post, the plan is to integrate RAD tooling into Unreal Engine.
RAD tooling is used by close to 25,000 games, according to the post, making it massively popular. Probably the most well-known of their tools by gamers is Bink Video and you might have seen a logo of it across some of your favourite games going back to the 90's.
As graphics in game development and beyond become more photorealistic and powerful, developers need best-in-class compression software that can manage increased data requirements without compromising quality. Members of the RAD team will partner closely with Epic’s rendering, animation, insights, and audio teams, integrating key tech and improvements across Unreal Engine and beyond. RAD and Epic combining forces will allow even more developers access to tools that make their games load and download faster, and offer their players a better, higher quality video and gaming experience.Epic Games
The good news is that Epic will not be locking it down to their systems. As the post explains, RAD will continue supporting and selling licenses for their products across all industries and those that don't use Unreal Engine.
So now Epic Games own Psyonix (Rocket League), Quixel (Megascans), SuperAwesome (kids digital media ecosystem), Hyprsense (facial motion capture), Easy Anti-Cheat and no doubt that list will grow.