After months and months of Sega’s PR department refuting allegations that foretold a takeover by pachinko giant Sammy, it has been revealed today that a full buy-out of Sega by Sammy has been finalised.
In a deal that Sega executives could do nothing about, Sammy will acquire Sega for $1.4 billion, it was revealed today, setting up a holding company, Sega Sammy Holdings Inc, of which Sammy will control over 95%.
Each share of Sammy will be swapped for one share of Sega Sammy, while each share of Sega will be swapped for 0.28 share.
As Reuters explains, “The two companies aim to close the deal on October 1 with Sammy Chief Executive Hajime Satomi heading the new company. The two firms' respective stocks will be withdrawn from the Tokyo Stock Exchange on September 27.”
Sammy’s now-infamous Satomi said at the press conference held in Japan hours ago that he hoped to boost Sammy’s arcade presence by using Sega’s leading brands in interactive entertainment.
At time of going to press, we have no idea as to how this news will impact on Sega’s home and consumer output. We are awaiting an English version of today’s press release, though it is unknown as to whether developmental and operational reshuffles or adjustment possibilities will be outlined.
Whatever happens, we’ll let you know right here.