Blackstone have signed a definitive agreement to acquire a majority stake in Sony Payment Services Inc. (SPSV), from Sony Bank.

In 1995, Sony Group launched its payment service venture, evolving it into an independent entity by 2006. Today SPSV stands as a premier payment service provider in Japan, delivering a robust and secure infrastructure essential for customers and businesses to handle online payment transactions.

“Sony has been a longstanding partner to Blackstone. Our partnership goes all the way back to Blackstone’s founding nearly four decades ago – we started out as a boutique M&A firm, and Sony was one of our earliest clients”, Steve Schwarzman, Chairman, Chief Executive Officer & Co-Founder, Blackstone, said.

“Digitisation 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”, Atsuhiko Sakamoto, Head of Private Equity, Blackstone Japan, said.

“For the past 30 years, SPSV has led Japan’s cashless evolution, making payments safe and secure for customers. We believe Blackstone can help continue the legacy that SPSV has formed and support its next phase of growth”, Kenichiro Yoshida, Chairman and CEO, Sony Group, said.

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