Sony acquires cloud gaming service Gaikai for $380 million

Sony Computer Entertainment, Sony's gaming arm, announced on Monday that it has agreed to acquire California-based cloud gaming firm Gaikai Inc. for $380 million. Sony says the deal will allow it to launch a new cloud service, though the company did not elaborate on exactly what features the new service might offer. “By combining Gaikai's resources including its technological strength and engineering talent with SCE's extensive game platform knowledge and experience, SCE will provide users with unparalleled cloud entertainment experiences,” said SCE group president Andrew House in a statement. “SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices.” Sony's full press release follows below.

Sony Computer Entertainment to Acquire Gaikai Inc., a Leading Interactive Cloud Gaming Company

SCE to Build a Cloud Service Bringing Gaikai's Cloud Based-Streaming Technologies into Its Network Business

TOKYO, July 2, 2012 /PRNewswire via COMTEX/ — Sony Computer Entertainment (SCE) today announced that it entered into a definitive agreement on June 30, 2012 (Japan Time) to acquire Gaikai Inc., the world's leading interactive cloud-based gaming company, for approximately USD 380 million. Through the acquisition, SCE will establish a new cloud service, ensuring that it continues to provide users with truly innovative and immersive interactive entertainment experiences.

“By combining Gaikai's resources including its technological strength and engineering talent with SCE's extensive game platform knowledge and experience, SCE will provide users with unparalleled cloud entertainment experiences,” said Andrew House, President and Group CEO of Sony Computer Entertainment Inc. “SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices.”

“SCE has built an incredible brand with PlayStation and has earned the respect of countless millions of gamers worldwide,” said David Perry, CEO of Gaikai Inc. “We're honored to be able to help SCE 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.”

Established in 2008 and headquartered in Aliso Viejo, California, Gaikai has developed the highest quality, fastest interactive cloud-streaming platform in the world that enables the streaming of quality games to a wide variety of devices via the internet. With this acquisition, SCE will establish a cloud service and expand its network business by taking full advantage of Gaikai's revolutionary technology and infrastructure including data centers servicing dozens of countries and key partners around the world.

The transaction is subject to certain regulatory approvals and customary closing conditions.

SCE will continue to aggressively expand a new world of entertainment through the introduction of innovative technologies and the delivery of amazing experiences.