Updated: So much for this, and as we said below, our sources also denied a deal: Sony (NYSE: SNE) is denying any such sale: “Sony Online Entertainment is not for sale and the report that Zapak is purchasing Sony Online Entertainment is completely erroneous and false,” a company spokesperson for San Diego-based Sony Online told Reuters.
Original post: Sony Online Entertainment, the online gaming company owned by Sony best known for creating online games such as EverQuest, PlanetSide, Star Wars Galaxies and Vanguard, is about to be bought by Indian online gaming company Zapak, owned by the conglomerate Reliance ADA Group, according to a report in Indian business newspaper Economic Times. The price, it says, is around $300 million, and says the deal will be finalized within the next few days.
The story says SOE has revenues of around $150 million. Zapak had planned to spend $100 million over three years, so this is a substantial jump in the outlay, if true. Zapak aims to reduce the content and marketing cost of publishing side by relocating the studios to India, the story says.