Sony’s online game unit sold to US investment firm

Sony’s online game unit sold to US investment firm

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Japan based electronics manufacturer, Sony has sold off its online gaming unit to a US based investment firm. The new move has been taken to make titles for consoles instead of PlayStations. The unit Sony Online Entertainment has been acquired by the New York based investment firm Columbus Nova.

sony game unit

However, the financial terms of the deal has not been revealed. The former unit of Sony will now operate as an independent game development studio under the name Daybreak Game Company. The New York based firm already owns the music video game Rock Band.

With the new move, the new company formed can develop games for mobile devices with non-Sony consoles like Microsoft’s Xbox. The game EverQuest pits against the World of Warcraft title. It has been noticed in recent times, that Sony is selling off some of its assets which also included its laptop business and Manhattan headquarters.

Sony is struggling hard to get back to profits after years of heavy losses faces. The firm was founded in 2000 and managed more than $15 billion in assets with the help of its own funds and affiliated portfolio companies. Columbus Nova had bought Harmonix Music Systems in 2010 which is the maker of Rock Band and Dance Central.

Photo Credits: firstpost