Sony Music to Become Top Shareholder of GungHo, Acquiring Shares for 28.6 Billion Yen
M&A · Partnership
Sony Music Entertainment, a subsidiary of Sony Group, announced on the 28th that it has concluded a capital and business alliance agreement with GungHo Online Entertainment, a major smartphone game company. It will acquire approximately 22.9% of GungHo's shares from existing shareholders for about 28.6 billion yen, making it the top shareholder. The two companies aim to collaborate on joint game development and new game projects. The acquisition is expected to be completed within the year, with the aim of combining GungHo's intellectual property (IP) and game development capabilities, represented by "Puzzle & Dragons," with Sony's expertise in the entertainment field through the capital and business alliance.
