Japanese tech giant Sony is allegedly planning on a bid for Hon Kong-listed gaming company Leyou Technologies, a major stakeholder of developers Digital Extremes and Splash Damage, the latter of which developed Gears Tactics.
Per Bloomberg, the massive acquisition would see Sony acquire multiple popular free-to-play titles which include the successful shooter Warframe, and an upcoming Lord Of The Rings MMO.
Leyou Technologies confirmed in May that it had received a non-binding buyout offer from Shenzhen-listed Zhejiang Century Huatong Group, and other bidders including iDreamSky Technology Holdings.
It is also worth noting that the bid is being helmed by Sony Corporation itself, and not its Sony Interactive Entertainment (SIE) division, although the Bloomberg report notes that SIE CEO Kenichiro Yoshida is looking to strengthen the company’s offerings, including adding value for the upcoming PS5 launch later this year.
Leyou’s controlling shareholder Charles Yuk is aiming to choose a buyer and sign an agreement as soon as this month, said Bloomberg’s confidential sources close to the matter.
Bloomberg also reports that the news of Sony discussing a potential bid has prompted a 9.8 per cent increase in Leyou’s share price. Leyou’s stock has risen by around 20 per cent since the start of 2020 – thanks in part to the ongoing talks of a buyout – and values the company at approximately USD$1.1billion.
Leyou Technologies’ current roster of subsidiary companies include Digital Extremes, Splash Damage (which facilitated Halo: Master Chief Collection‘s port to PC), Athlon Games, Radiance Games and more.
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July 06, 2020 at 10:38AM
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Sony is considering a bid to buy ‘Gears Tactics’ parent company - NME
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