Private equity funds managed by Blackstone are to acquire a majority stake in Sony Payment Services Inc (SPSV), one of Japan’s leading payment service providers, from Sony Bank, a wholly-owned subsidiary of Sony Group.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Sony Group established its payment service business in 1995, which became a standalone company in 2006. Today, SPSV is one of the top payment service providers in Japan, offering high-speed and secure infrastructure for customers and businesses to process online payments.
Japan is the fourth largest electronic card payment market in the world with a market penetration of 9.1%, representing significant room for growth. SPSV is supported by Japan’s JPY 22.7 trillion e-commerce market and the rapid uptake of cashless payments around the world.
Blackstone’s Private Equity investments in Japan include the acquisition of Alinamin Pharmaceutical (formerly Takeda Consumer Healthcare) in the largest healthcare transaction in the market ever and AYUMI Pharmaceutical.
Source: Private Equity Wire
Can’t stop reading? Read more
Bansk Group acquires majority stake in fast-growing skincare brand BYOMA
Bansk Group acquires majority stake in fast-growing skincare brand BYOMA Bansk Group has agreed to...
Ares prepares €1.5bn continuation vehicle for legacy European loans
Ares prepares €1.5bn continuation vehicle for legacy European loans Ares Management is planning a...
TPG to acquire GE Vernova’s Proficy software unit in $600m deal
TPG to acquire GE Vernova’s Proficy software unit in $600m deal TPG has agreed to acquire Proficy,...