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Sony has decided to make a little extra cash available by selling $1.9 billion worth of convertible bonds, with some of this figure being used to help fund the recent acquisition of Gaikai.

Up to a third of this money will be used to invest in Japanese optics group Olympus Corp as the company’s focus shifts to CMOS image sensors. Sony is looking to pay off any debts and get a fresh start following a net loss of $198 in Q1 2012 as the gaming division continues to see a year-on-year fall in profits.

Sony has lowered its sales expectations for the PSP and Vita from 16 million to 10 million and in the last report it was revealed that PlayStation 3 sales are down from 4.9 million to 3.5 million.

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About Matthew Bennett

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Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89

Sony Raises $1.9 Billion Via Bond Sales to Help Fund Gaikai Acquisition

Sony has decided to make a little extra cash available by selling $1.9 billion worth of convertible bonds, with some of this figure being used to help fund the recent acquisition of Gaikai.

By Matthew Bennett | 11/15/2012 06:39 AM PT

News

Sony has decided to make a little extra cash available by selling $1.9 billion worth of convertible bonds, with some of this figure being used to help fund the recent acquisition of Gaikai.

Up to a third of this money will be used to invest in Japanese optics group Olympus Corp as the company’s focus shifts to CMOS image sensors. Sony is looking to pay off any debts and get a fresh start following a net loss of $198 in Q1 2012 as the gaming division continues to see a year-on-year fall in profits.

Sony has lowered its sales expectations for the PSP and Vita from 16 million to 10 million and in the last report it was revealed that PlayStation 3 sales are down from 4.9 million to 3.5 million.

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About Matthew Bennett

view all posts

Matt is one of the longest-serving members of the EGMNOW team. An ability to go many hours without sleep and a quick wit make him ideal for his role as associate editor at EGMNOW.com. He often thinks back to the days when the very idea of this career seemed like nothing but an impossible dream. Find him on Twitter @mattyjb89