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 approximately 28.6 billion yen, making it the top shareholder. The acquisition is expected to be completed within the year, and the two companies will collaborate on joint game development and new game planning. Through the capital and business alliance, the aim is to combine GungHo's intellectual property (IP) and game development capabilities, represented by "Puzzle & Dragons," with Sony's expertise in the entertainment field.
Sony Group CorporationSony Music acquires ~22.9% of GungHo for ~28.6 billion yen, becoming top shareholder via a capital and business alliance.
