Sony Moves to Acquire Broadband Company So-Net
Will have full ownership of internet services.
Sony has announced plans to fully acquire Japanese broadband company So-Net, by purchasing all remaining shares in the company. The deal would make the internet outfit a subsidiary of the tech giant, in a deal worth ¥60 billion.
The two companies have filed an agreement that states Sony will attempt to buy the remaining 42 per cent of So-Net's shares over a period of 29 business days at ¥567,500 ($7229) a share. Sony already owns a commanding 58 per cent.
Sony's stock prices rose 2.7 per cent - its biggest boost in two weeks - on the back of the announcement.
Why is this such a big deal, you ask? Sony opting to adopt a vertically integrated strategy will certainly have implications for the future of its PlayStation business. This acquisition move follows news of Sony forging a deal with online service Gaikai to offer streaming games to the PlayStation platform.
Source: ZDNet
The two companies have filed an agreement that states Sony will attempt to buy the remaining 42 per cent of So-Net's shares over a period of 29 business days at ¥567,500 ($7229) a share. Sony already owns a commanding 58 per cent.
Sony's stock prices rose 2.7 per cent - its biggest boost in two weeks - on the back of the announcement.
Why is this such a big deal, you ask? Sony opting to adopt a vertically integrated strategy will certainly have implications for the future of its PlayStation business. This acquisition move follows news of Sony forging a deal with online service Gaikai to offer streaming games to the PlayStation platform.
Source: ZDNet
Companies:
Sony
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