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Submitted by shutUpAndTakeMyMoney 1180d ago | news

Sony selling convertible bonds worth $1.9 billion to help fund Gaikai acquisition

Sony is making a little extra cash by selling $1.9 billion worth of convertible bonds. Some of the figure will be used to finance the company’s purchase of Gaikai, while up to a third will be invested into Japanese optics group Olympus Corp. (Gakai, Industry, PS Vita, PS3, PSP, Sony Computer Entertainment)

Abash  +   1180d ago
Damn didnt know they had all that money stowed away, I bet they have even more to work with if it very necessary
#1 (Edited 1180d ago ) | Agree(10) | Disagree(7) | Report | Reply
nukeitall  +   1180d ago
@Abash:

"Damn didnt know they had all that money stowed away"

On the contrary, it means Sony is aching for some cash and therefore selling bonds to obtain money.

On top of it, Sony's debt rating is recently lowered near junk status:

http://www.gamesindustry.bi...

I wouldn't personally buy Sony bonds....
jujubee88  +   1180d ago
"...On the contrary..."
^
~Quick! Look at this before reading on!!!

Related image(s)
ronin4life  +   1180d ago
I am confused... what you are saying is true. Are the disagrees people who don't understand what credit and bonds are, or are they in denial?

Protip; you don't sell yourself off like this because you can. You do it when you need to. Otherwise all companies would always do it non-stop to make a quick buck.

@juju
OH SNAP LOOKS OUT!! ¤[]¤\
Lol. ^.^
#1.1.2 (Edited 1180d ago ) | Agree(5) | Disagree(5) | Report
crusadernm   1180d ago | Spam
Da One  +   1179d ago
LOL....

Definitely wouldn't sell my furniture...
majiebeast  +   1180d ago
Sony could sell their 50% of the record label and be out of financial problems in a instant.

@Knight

I was just saying it as a example i doubt they would ever sell part of the label.
#1.2 (Edited 1180d ago ) | Agree(8) | Disagree(2) | Report | Reply
Knight_Crawler  +   1180d ago
Why would the sell half of something that is very profitable to them?

If anything they should sell Sony Ericson, Sony Bravia, Sony Cameras and Sony WALKMAN.
jujubee88  +   1180d ago
So...
...If anyone has links to where I can buy some Sony bonds, please let me know, lol! :)

(No. Seriously.)

Sincerely,
Jujubee88
rezzah  +   1180d ago
How much did they buy Gaikai for again?
Godchild1020  +   1180d ago
http://www.forbes.com/sites...

$380 million dollars.
#2.1 (Edited 1180d ago ) | Agree(6) | Disagree(1) | Report | Reply
Evildoomnerd  +   1180d ago
Gaikai was bought for $380 million dollars.

Edit: Godchild beat me to it.
#2.2 (Edited 1180d ago ) | Agree(5) | Disagree(1) | Report | Reply
Cirran  +   1180d ago
$380mil

Edit: Damn you evildoomnerd...Your name suits you well ;<
#2.3 (Edited 1180d ago ) | Agree(4) | Disagree(1) | Report | Reply
The_Klank  +   1180d ago
$380 mill. I'm interested in seeing what comes out of this.

Edit* lol at all the answers
#2.4 (Edited 1180d ago ) | Agree(4) | Disagree(1) | Report | Reply
Hicken  +   1180d ago
You guys are funny. Bubbles up.

Edit: lol, I went into Oprah mode. "You get a bubble. And YOU get a bubble! AND YOU GET A BUBBLE!
#2.5 (Edited 1180d ago ) | Agree(5) | Disagree(1) | Report | Reply
wenaldy  +   1180d ago
Enjoy the bubble up all of you.
showtimefolks  +   1180d ago
even though sony is still in red things are looking up in their last stock reports meeting. hopefully this whole mess will make sony even a stronger company
ronin4life  +   1180d ago
Their credit ranking fell again however, putting them dangerously close to a "junk" rating.

Whatever that means exactly...>.>
showtimefolks  +   1180d ago
Yeah like I said they are sill in red. But KAZ has been making improvements. I think ts a process hats ginna take some time.

Sony really needs to figure out something in TV department, others are making cheaper TV's, not better but cheaper so they need a competitive price point

This is why I believe ps4 won't be here by fall 2013, Sony is in no position to nest heavily right mow so maybe they will wait till 2014 and get their acts together
tiffac008  +   1179d ago
Well Sony is just going to suck it up for awhile since this recovery plan is slated to be on-going for 3 years (if I am not mistaken) and they are just barely in the 1st year of Kaz in the helm.

So its going to be a long bumpy road ahead.

As for Olympus, here is the reason Sony tied the knot with them (so-to-speak): http://www.businessweek.com...

and the guys who was doing the fraudulent acts have already been ousted from the company.

Edit: http://en.wikipedia.org/wik... - Wiki one of the best source of info ^^
#3.1.2 (Edited 1179d ago ) | Agree(1) | Disagree(0) | Report
ronin4life  +   1180d ago
...OLYMPUS!!??
They invested in a company recently RATTLED by major fraud cases??
Dear god...>.>

Not the best link, so if you want more info just google it yourselves:

http://mobile.businessweek....
#4 (Edited 1180d ago ) | Agree(0) | Disagree(1) | Report | Reply
shutUpAndTakeMyMoney  +   1180d ago
lol 50 cent also invested in them. Seen him on QVC 4 days ago selling headhones.
profgerbik  +   1180d ago
This just shows me they are putting a lot of effort into making Gaikai something truly amazing, it doesn't matter how they got the money, all that matters to me that they are investing a lot into something that is crucial in gaming right now.

Gaikai will completely change things for them and they will no longer have to rely on console or handheld sales either gaming wise which should actually show promise for their future products and alleviate them of further stress due to an ever changing market which they soon will be fully adapted to.

I cannot wait to see what the new Gaikai offers with all this money they have put into it. It was already nice enough before Sony bought it.
#5 (Edited 1180d ago ) | Agree(4) | Disagree(0) | Report | Reply
nevin1  +   1179d ago
Only time will tell if this Gaikai will be a flop or success.

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