Sony to Raise Nearly $2 Billion in Cash from Convertible Bond Sales

Sony announced that it will raise an estimated $1.85 billion in cash through the sale of its convertible bonds. The money generated from the sales of these bonds, the company says, will help pay down on the $380 million it spent acquiring cloud-based gaming company Gaikai, along with financing investments it has in other businesses such as Olympus Corp., and paying off miscellaneous company debts.

Sony announced the acquisition of Gaikai way back in July of this year, but did not elaborate on how Gaikai's technology and expertise would be used in relation to Sony's platforms. It is assumed that the cloud-based gaming technology will be a major part of Sony's next-generation console…

Source: C&VG


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