Blackstone has agreed to acquire Sony Payment Services.
The firm is acquiring Sony Payment Services from Sony Group’s Sony Bank, which will still support Sony Payment Services as a minority investor.
The acquisition marks Blackstone’s first investment in a Japan-based fintech company.
Private equity group Blackstone has agreed to take a majority stake in Japan-based Sony Payment Services (SPSV). The firm is acquiring SPSV from Sony Group subsidiary Sony Bank. Sony Bank will continue to support SPSV as a minority investor.
The acquisition marks Blackstone’s first investment in a Japan-based fintech company. The firm’s other Japan-based acquisitions have centered around the pharmaceutical industry. In 2002, Blackstone acquired AYUMI Pharmaceutical and Alinamin Pharmaceutical, a deal that marked the largest healthcare transaction in the market ever.
“We are thrilled to invest in SPSV… and expand our Japan Private Equity portfolio in ‘good neighborhoods’ – sectors with strong secular growth,” said Blackstone Japan Head of Private Equity Atsuhiko Sakamoto. “Digitization of the economy is a key trend around the world including Japan, and SPSV is exceptionally positioned to benefit with its sophisticated technology and robust customer base. We’re committed to bringing our operational and technology expertise and scale to support SPSV’s growth.”
Sony established its payment services group in 1995, and the group became a standalone company when it established SPSV in 2006. Headquartered in Tokyo, SPSV offers infrastructure for online payments processing.
“For the past 30 years, SPSV has led Japan’s cashless evolution, making payments safe and secure for customers,” said Sony Group Chairman and CO Kenichiro Yoshida. “We believe Blackstone, a long-standing partner of Sony Group, can help continue the legacy that SPSV has formed and support its next phase of growth.”
Combining Sony’s legacy and Blackstone’s expertise brings potential for SPSV to further innovate in Japan’s cashless evolution. This collaboration suggests there may be room for more strategic partnerships between traditional industry players and investment firms to foster innovation and drive advancement in the payments industry.
Founded in 1985, Blackstone counts more than $1 trillion in assets under management. The firm serves both institutional and individual investors with a wide range of portfolio companies and investment vehicles including private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds.
Photo by Daniel Absi
