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SIE sounds off with Audiokinetic deal
Posted on Wednesday, 09 January 2019 14:10
Sony’s subsidiary, Sony Interactive Entertainment (SIE), is tapping into the audio engineering market by acquiring Canada-based Audiokinetic for an undisclosed sum.
The transaction, which will add value to the buyer’s Playstation ecosystem, is due to complete by 31st January 2018, subject to the usual raft of closing conditions.
Headquartered in Montreal, Audiokinetic claims to be the global leader in audio engineering for the interactive, media, gaming, location-based entertainment and automotive industries.
Through sites in Japan and Europe, it currently ships over 500 titles of consoles, mobiles and desktops ever year, including products such as wwise spatial audio and premium plug-ins that can be used for interactive sound design.
Upon closing, the target will become a wholly-owned subsidiary of the buyer, but will continue to operate independently.
Martin Klein said: “Joining the SIE family is a win for both Audiokinetic and our partners who use our audio tools and middleware.
“We will remain independent and continue to deliver our suite of audio solutions to developers and platform holders, with even greater resources to continue innovating, expanding our market and enhancing our technology.”
Through the acquisition, SIE adds to its world-famous Playstation console brand, which includes spin-off products such as Playstation 4, Playstation Vita, Music Playstation and Playstation Vue, among others.
For the six months ended 30th September, Sony posted sales for its games and network services division, under which the buyer is incorporated, of JPY 985.73 billion (USD 9.06 billion), up from JPY 737.31 billion in the preceding 12 months.
According to Zephyr, the M&A database published by Bureau van Dijk, there were 2,279 deals targeting custom computer programming services providers announced worldwide in 2018.
US companies accounted for the two biggest transactions, the largest of which involved Bain Capital Private Equity buying Rocket Software for USD 2.00 billion.
Other companies targeted in this sector include Web.Com Group, GlobalLogic, Megvii Technology and Temenos.
© Zephus Ltd