Today, Chinese online entertainment platform for young generations Bilibili announced that it has entered into a definitive investment agreement with Sony subsidiary Sony Corporation America. Sony will invest an aggregate amount of approximately $400M USD by subscribing for roughly 17M newly issued shares of Bilibili at a share price of $23.1071. Following the closing of the investment, Sony will own approximately 4.98% of Bilibili’s total issued shares. The transaction is expected to close by tomorrow.
Furthermore, Bilibili and Sony are looking to pursue collaboration opportunities within the area of the entertainment business in the Chinese market, including anime and mobile games.
Aside from operating its streaming platform, Bilibili owns League of Legends Pro League (LPL) team Bilibili Gaming and Overwatch League (OWL) organization Hangzhou Spark. Additionally, the company secured a three-year ¥800M RMB ($113M) exclusive broadcasting deal for the League of Legends World Championships with TJ Sports.
