Sony Corporation of America will be investing approximately $400 million cash in the Shanghai-based streamer, Bilibili. The all cash transaction is to be conducted through Sony Corporation of America and sees SCA buy 17.3 million Bilibili shares, or just under five per cent of Bilibili’s capital. The transaction is expected to close on or before 10 April, subject to customary closing conditions.
“The strategic investment and business cooperation (by Sony) further align our goals to bring best-in-class content offerings and services to our users, as we increase our (Chinese) domestic stronghold in animation and mobile games,” said Bilibili chairman and CEO Rui Chen, in a prepared statement.
In addition, Bilibili and Sony will pursue opportunities for collaboration within the Chinese entertainment business, including anime and mobile games.
Launched in 2010, Bilibili spotlights video content related to animation, comics and games. On top of user-generated content, the company has acquired anime series and commissioned original projects, with recent titles including the viral Karl Marx bio series The Leader and My Three-Body: The Legend of Zhang Beihai.