Sony Corp acquires Gaikai Inc for $380 million

Deal Participants:
Acquiring Company: Sony Corp View Profile Charts Homepage
Target Company: Gaikai Inc View Profile Charts Homepage
Deal Financials:
Price: $380 million
 
Date:
Announced: Jul 02, 2012

Notes:

Also Intel Capital and Qualcomm Ventures

PRESS RELEASE

Sony is taking its games to the cloud.

The console game giant announced that it has acquired online game streaming company Gaikai for about $380 million. Sony will establish a new interactive gaming cloud service, the company said.

The on-demand service will include casual games as well as "immersive core games with rich graphics," said Sony Computer Entertainment president and group CEO Andrew House. ""By combining Gaikai's resources including its technological strength and engineering talent with (Sony's) extensive game platform knowledge and experience, (Sony) will provide users with unparalleled cloud entertainment experiences," he said.

Unlike cloud gaming competitor OnLive, which markets its subscription and on-demand games directly to consumers, Gaikai has focused on serving as a way for game publishers to let consumers quickly demo games. Earlier this year, it brought a selection of game demos to Facebook.

By hosting games on high-end servers, Gaikai can deliver streaming interactive games to TVs, computers, tablets, phones and other mobile devices.

"We're honored to be able to help (Sony) rapidly harness the power of the interactive cloud and to continue to grow their ecosystem, to empower developers with new capabilities, to dramatically improve the reach of exciting content and to bring breathtaking new experiences to users worldwide," said Gaikai CEO David Perry.

Banking Representation:
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Legal Representation:
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Who Made the Money?:
Name

Title
Shares (mm)
Ownership
Cost Basis

Amt (mm)
Net (mm)
Benchmark Capital
Rustic Canyon Parnters
New Enterprise Associates
Edit History:
Jul 02 '12
Jul 02 '12
This version submitted by heuristo

 

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