Sony has Sold Square Enix Stakes Completely for $47 Million
News just came in that Sony is no longer a part of Square Enix; the company has sold all its shares in the publisher for a whopping price tag of $47 million. For over a decade, the PlayStation 4 manufacturer has held the stakes in the Tokyo based company, but that collaboration is no more.
In total, Sony held a little over 9.5 million shares in the Final Fantasy publisher. If you know this figure and if you know the current share price of the publisher in question, this should have come as a shocker to you.
This is so because the existing share price of Square Enix is $16.48 which means that the shareholding of Sony should have been valued at over $150 million!
This would be the end of a longstanding partnership that Sony and Square Enix have both profited from on large scales. For instance during the tenure of PS One and PS2, games like Kingdom Hearts 1, Kingdom Hearts 2 and more importantly, Final Fantasy 7, 8, 9, 10, and 12 were huge successes.
This also gives strength to the prevailing doubts about Sony’s speculated financial crunch. The company has also been under immense pressure for reducing the cost base and parallel to that, this isn’t the first time they have sold off assets like these.
Sony’s PC manufacturing segment was also sold off to Japan Industrial Partners for $489 million a couple of months back.
Looks like both Sony and Square Enix are in for mega changes. What do you think is brewing?